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有色及贵金属日度数据简报-20250905
Guo Tai Jun An Qi Huo·2025-09-05 11:48
  1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints - No core viewpoints are explicitly stated in the report. It mainly presents the daily data briefing of non - ferrous metals and precious metals. 3. Summary by Related Catalogs Gold (AU) - Prices: The closing price of SHFE gold main contract was 815.60 yuan/gram on 2025/9/4, and 814.40 yuan/gram for the near - month contract on 2025/9/5. COMEX gold main contract closed at 144.20 dollars/ounce on 2025/9/4, and the near - month contract was 164.50 dollars/ounce on 2025/9/5. The London gold spot price was 3546.55 dollars/ounce on 2025/9/4, and the SGE gold spot price was 28.70 yuan/gram on 2025/9/5 [1] - Basis: The domestic basis (gold T + D - main contract) ranged from - 815.60 yuan/gram to - 803.67 yuan/gram, and the overseas basis (LBMA gold spot - COMEX AU01) ranged from - 63.50 dollars/ounce to 108.20 dollars/ounce [1] Silver (AG) - Prices: The closing price of SHFE silver main contract was 426 yuan/kilogram on 2025/9/4, and 9812 yuan/kilogram on 2025/9/5. COMEX silver main contract closed at 0.56 dollars/ounce on 2025/8/8, and the near - month contract was 1.61 dollars/ounce on 2025/8/8. The London silver spot price was 40.86 dollars/ounce on 2025/9/5, and the SGE silver spot price was 9770 yuan/kilogram on 2025/9/5 [1] - Basis: The domestic basis (AG(T + D) - main contract) ranged from - 22 yuan/gram to - 9 yuan/gram, and the overseas basis (LBMA silver spot - COMEX AG01) ranged from - 0.345 dollars/ounce to 0.61 dollars/ounce [1] Copper (CU, BC) - Prices: The closing price of SHFE copper (CU) main contract was 730 yuan/ton on 2025/9/4, and 80140 yuan/ton on 2025/9/5. The international copper (BC) main contract closed at 640 yuan/ton on 2025/9/4, and 71130 yuan/ton on 2025/9/5. LME copper 3M closed at 59.00 dollars/ton on 2025/9/4, and 9971.50 dollars/ton on 2025/9/5 [1] - Spreads: The SHFE copper monthly spread (CU00 - CU01) ranged from 20 yuan/ton to 80 yuan/ton, and the international copper monthly spread (BC00 - BC01) ranged from - 800.00 yuan/ton to - 150 yuan/ton. LME copper 0 - 3 spread ranged from 2.39 dollars/ton to - 67.16 dollars/ton [1] - Inventory: SHFE copper warrant inventory decreased from - 2345 tons to 18927 tons, and international copper warrant inventory increased from - 476 tons to 5121 tons. LME copper warrant inventory decreased from 425 tons to 2375 tons [1] - Import Profit and Loss: Copper spot import profit and loss ranged from - 255.36 yuan/ton to 53.79 yuan/ton, and copper 3M import profit and loss ranged from - 371.96 yuan/ton to 14.52 yuan/ton [1] Aluminum and Alumina (AL, AO) - Prices: The closing price of SHFE aluminum (AL) main contract was - 45 yuan/ton on 2025/9/4, and 20695 yuan/ton on 2025/9/5. The alumina (AO) main contract closed at - 164 yuan/ton on 2025/8/8, and 3006 yuan/ton on 2025/9/5. LME aluminum 3M closed at - 10.00 dollars/ton on 2025/9/4, and 2604.50 dollars/ton on 2025/8/8 [1] - Spreads: The SHFE aluminum monthly spread (AL00 - AL01) ranged from - 5 yuan/ton to 20 yuan/ton, and the alumina monthly spread (A000 - A001) ranged from - 19 yuan/ton to 5 yuan/ton. LME aluminum 0 - 3 spread ranged from - 2.49 dollars/ton to 4.01 dollars/ton [1] - Inventory: SHFE aluminum warrant inventory increased from 378 tons to 59961 tons, and alumina warrant inventory increased from 8428 tons to 106257 tons. LME aluminum warrant inventory decreased from 479600 tons to 9025 tons [1] - Profit: Alumina plant profit ranged from - 94.81 yuan/ton to 281.69 yuan/ton, and electrolytic aluminum plant smelting profit ranged from 1.73 yuan/ton to 4088.74 yuan/ton [1] Zinc (ZN) - Prices: The closing price of SHFE zinc (ZN) main contract was 15 yuan/ton on 2025/9/4, and 22155 yuan/ton on 2025/9/5. LME zinc 3M closed at 47 dollars/ton on 2025/9/4, and 2864 dollars/ton on 2025/9/5 [1] - Spreads: The SHFE zinc monthly spread (ZN00 - ZN01) ranged from - 40 yuan/ton to - 20 yuan/ton, and LME zinc 0 - 3 spread ranged from 10.59 dollars/ton to 28.94 dollars/ton [1] - Inventory: SHFE zinc warrant inventory decreased from 40772 tons to 26426 tons, and LME zinc warrant inventory decreased from - 80425 tons to - 54750 tons [1] - Import Profit and Loss: Refined zinc spot import profit and loss ranged from - 2375.28 yuan/ton to - 51.80 yuan/ton, and refined zinc 3M import profit and loss ranged from - 2096.76 yuan/ton to - 63.27 yuan/ton [1] - Profit: Refined zinc plant smelting profit ranged from - 220 yuan/ton to - 8.00 yuan/ton [1] Lead (PB) - Prices: The closing price of SHFE lead (PB) main contract was 40 yuan/ton on 2025/8/29, and 16900 yuan/ton on 2025/9/5. LME lead 3M closed at 1990.50 dollars/ton on 2025/8/29, and - 2.00 dollars/ton on 2025/9/5 [1] - Spreads: The SHFE lead monthly spread (PB00 - PB01) ranged from - 70 yuan/ton to - 15 yuan/ton, and LME lead 0 - 3 spread ranged from - 44.77 dollars/ton to - 1.68 dollars/ton [1] - Inventory: SHFE lead warrant inventory decreased from - 4392 tons to 54090 tons, and LME lead warrant inventory decreased from 0 tons to - 259550 tons [1] - Import Profit and Loss: Refined lead spot import profit and loss ranged from - 531.62 yuan/ton to 127.31 yuan/ton, and refined lead 3M import profit and loss ranged from - 561.03 yuan/ton to 77.63 yuan/ton [1] - Profit: Regenerated lead plant smelting profit ranged from - 106.60 yuan/ton to 3.20 yuan/ton [1] Nickel and Stainless Steel (NI, SS) - Prices: The closing price of SHFE nickel (NI) main contract was 460 yuan/ton on 2025/9/4, and 121310 yuan/ton on 2025/9/5. The stainless steel (SS) main contract closed at 12850 yuan/ton on 2025/8/8, and - 5 yuan/ton on 2025/9/5. LME nickel 3M closed at 90 dollars/ton on 2025/9/4, and 15250 dollars/ton on 2025/9/5 [1] - Spreads: The SHFE nickel monthly spread (NI00 - NI01) ranged from - 310 yuan/ton to - 60 yuan/ton, and the stainless steel monthly spread (SS00 - SS01) ranged from - 85 yuan/ton to - 15 yuan/ton. LME nickel 0 - 3 spread ranged from - 150 dollars/ton to 70 dollars/ton [1] - Inventory: SHFE nickel warrant inventory decreased from 1057 tons to 21678 tons, and stainless steel warrant inventory decreased from - 3544 tons to 99439 tons. LME nickel warrant inventory increased from 5766 tons to 215310 tons [1] - Import Profit and Loss: Refined nickel spot import profit and loss ranged from - 1511.47 yuan/ton to 13.53 yuan/ton, and refined nickel 3M import profit and loss ranged from - 271.69 yuan/ton to - 46.25 yuan/ton [1] Tin (SN) - Prices: The closing price of SHFE tin (SN) main contract was 4680 yuan/ton on 2025/9/4, and 272460 yuan/ton on 2025/9/5. LME tin 3M closed at 950 dollars/ton on 2025/9/4, and 34605 dollars/ton on 2025/9/5 [1] - Spreads: The SHFE tin monthly spread (SN00 - SN01) ranged from - 430 yuan/ton to - 80 yuan/ton, and LME tin 0 - 3 spread ranged from - 15 dollars/ton to 280 dollars/ton [1] - Inventory: SHFE tin warrant inventory decreased from 124 tons to 7397 tons, and LME tin warrant inventory increased from 215 tons to 2225 tons [1] - Import Profit and Loss: Refined tin spot import profit and loss ranged from - 16176.58 yuan/ton to 1547.47 yuan/ton [1] - Processing Fee: The tin ore processing fee was 12000 yuan/ton [1]