有色套利早报-20250901

Report Overview - The report provides cross - market, cross - period, and cross - variety arbitrage tracking data for non - ferrous metals on September 1, 2025 [1][4][5] Cross - market Arbitrage Tracking Copper - Spot price in China is 79400, LME spot price is 9803, March price in China is 79400, LME March price is 9884, with a March ratio of 8.01. The equilibrium ratio for spot import is 8.12, and the profit is 93.34. The profit for spot export is 49.03 [1] Zinc - Spot price in China is 22010, LME spot price is 2810, with a spot ratio of 7.83. March price in China is 22135, LME March price is 2804, with a March ratio of 6.00. The equilibrium ratio for spot import is 8.60, and the loss is 2144.80 [1] Aluminum - Spot price in China is 20730, LME spot price is 2620, with a spot ratio of 7.91. March price in China is 20730, LME March price is 2618, with a March ratio of 7.92. The equilibrium ratio for spot import is 8.40, and the loss is 1295.79 [1] Nickel - Spot price in China is 120150, LME spot price is 15156, with a spot ratio of 7.93. The equilibrium ratio for spot import is 8.19, and the loss is 2013.87 [1] Lead - Spot price in China is 16650, LME spot price is 1951, with a spot ratio of 8.57. March price in China is 16900, LME March price is 1993, with a March ratio of 11.08. The equilibrium ratio for spot import is 8.80, and the loss is 442.18 [3] Cross - period Arbitrage Tracking - For copper, zinc, aluminum, lead, and nickel, the spreads and theoretical spreads for the differences between the next month, March, April, May, and the spot month are all not available. For tin, the 5 - 1 spread is 350, and the theoretical spread is 5754 [4] Inter - period Arbitrage Tracking Copper - The difference between the next - month contract and the spot is 110, and the theoretical spread is 742 [4] Zinc - The difference between the next - month contract and the spot is 130, and the theoretical spread is 262 [5] Lead - The difference between the next - month contract and the spot is 230, and the theoretical spread is not available [5] Cross - variety Arbitrage Tracking - The ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc in Shanghai (triple - continuous) are 3.59, 3.83, 4.70, 0.94, 1.23, and 0.76 respectively, and in London (triple - continuous) are 3.51, 3.79, 4.97, 0.93, 1.31, and 0.71 respectively [5]