Report Industry Investment Rating - No information provided Core Viewpoint - The report presents cross - market, cross - period, spot - futures, and cross - variety arbitrage tracking data for non - ferrous metals including copper, zinc, aluminum, lead, nickel, and tin on September 29, 2025 [1][3][4] Summary by Relevant Catalogs Cross - Market Arbitrage Tracking - Copper: On September 29, 2025, the domestic spot price was 82,480, the LME price was 10,233, and the ratio was 8.08. The equilibrium ratio for spot import was 8.12, with a profit of - 652.74, and the profit for spot export was 134.27. The three - month domestic price was 82,480, the LME price was 10,272, and the ratio was 8.04 [1] - Zinc: The domestic spot price was 21,950, the LME price was 2,957, and the ratio was 7.42. The equilibrium ratio for spot import was 8.55, with a profit of - 3,338.99. The three - month domestic price was 21,995, the LME price was 2,918, and the ratio was 5.85 [1] - Aluminum: The domestic spot price was 20,770, the LME price was 2,651, and the ratio was 7.83. The equilibrium ratio for spot import was 8.40, with a profit of - 1,511.91. The three - month domestic price was 20,755, the LME price was 2,656, and the ratio was 7.82 [1] - Lead: The domestic spot price was 16,900, the LME price was 1,964, and the ratio was 8.62. The equilibrium ratio for spot import was 8.84, with a profit of - 437.61. The three - month domestic price was 17,125, the LME price was 2,006, and the ratio was 10.99 [3] - Nickel: The domestic spot price was 120,550, the LME price was 15,043, and the ratio was 8.01. The equilibrium ratio for spot import was 8.20, with a profit of - 2,042.46 [1] Cross - Period Arbitrage Tracking - Copper: The spreads between the next - month, three - month, four - month, and five - month contracts and the spot month were - 190, - 180, - 240, and - 260 respectively, while the theoretical spreads were 515, 929, 1351, and 1773 [4] - Zinc: The spreads were - 50, - 35, - 5, and 30, and the theoretical spreads were 213, 332, 451, and 571 [4] - Aluminum: The spreads were - 15, - 5, - 5, and 0, and the theoretical spreads were 215, 331, 446, and 562 [4] - Lead: The spreads were 50, 65, 80, and 65, and the theoretical spreads were 210, 317, 423, and 529 [4] - Nickel: The spreads were - 1300, - 1080, - 920, and - 670 [4] - Tin: The 5 - 1 spread was 310, and the theoretical spread was 5680 [4] Spot - Futures Arbitrage Tracking - Copper: The spreads between the current - month and next - month contracts and the spot were 210 and 20 respectively, and the theoretical spreads were 383 and 811 [4] - Zinc: The spreads were 80 and 30, and the theoretical spreads were 151 and 279 [4] - Lead: The spreads were 160 and 210, and the theoretical spreads were 167 and 280 [4] Cross - Variety Arbitrage Tracking - On September 29, 2025, the ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc for Shanghai (three - continuous contracts) were 3.75, 3.97, 4.82, 0.94, 1.21, and 0.78 respectively, and for London (three - continuous contracts) were 3.52, 3.83, 5.08, 0.92, 1.33, and 0.69 respectively [5]
有色套利早报-20250929
Yong An Qi Huo·2025-09-29 01:34