Report Industry Investment Rating - No information provided Core Viewpoint - The report presents cross - market, cross - period, and cross - variety arbitrage tracking data for non - ferrous metals including copper, zinc, aluminum, nickel, lead, and tin on October 16, 2025 [1][4][5] Summary by Category Cross - Market Arbitrage - Copper: On October 16, 2025, the domestic spot price was 85250, the LME spot price was 10745, with a spot ratio of 7.86; the domestic three - month price was 85850, the LME three - month price was 10717, with a ratio of 7.97; the spot import profit was - 1521.41 [1] - Zinc: The domestic spot price was 22010, the LME spot price was 3076, with a spot ratio of 7.16; the domestic three - month price was 22040, the LME three - month price was 2936, with a ratio of 5.83 [1] - Aluminum: The domestic spot price was 20920, the LME spot price was 2764, with a spot ratio of 7.57; the domestic three - month price was 20935, the LME three - month price was 2757, with a ratio of 7.59 [1] - Nickel: The domestic spot price was 123550, the LME spot price was 15044, with a spot ratio of 8.21; the spot import profit was - 1281.18 [1] - Lead: The domestic spot price was 16900, the LME spot price was 1946, with a spot ratio of 8.68; the domestic three - month price was 17130, the LME three - month price was 1991, with a ratio of 11.08 [3] Cross - Period Arbitrage - Copper: The spreads between the next month, three - month, four - month, and five - month contracts and the spot month were 1400, 1450, 1390, and 1250 respectively, while the theoretical spreads were 524, 946, 1377, and 1808 [4] - Zinc: The spreads were - 185, - 160, - 125, and - 100, and the theoretical spreads were 214, 334, 454, and 574 [4] - Aluminum: The spreads were 70, 95, 105, and 100, and the theoretical spreads were 215, 331, 448, and 564 [4] - Lead: The spreads were 60, 80, 85, and - 110, and the theoretical spreads were 210, 317, 423, and 529 [4] - Nickel: The spreads were 690, 840, 1060, and 1330 [4] - Tin: The 5 - 1 spread was - 240, and the theoretical spread was 5832 [4] Spot - Futures Arbitrage - Copper: The spreads between the current - month and next - month contracts and the spot were - 815 and 585, and the theoretical spreads were 415 and 1091 [4] - Zinc: The spreads were 190 and 5, and the theoretical spreads were 194 and 323 [4] - Lead: The spreads were 150 and 210, and the theoretical spreads were 207 and 320 [5] Cross - Variety Arbitrage - On October 16, 2025, the ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc for Shanghai (three - continuous) were 3.90, 4.10, 5.01, 0.95, 1.22, and 0.78 respectively; for London (three - continuous) were 3.60, 3.85, 5.33, 0.93, 1.38, and 0.68 [5]
有色套利早报-20251016
Yong An Qi Huo·2025-10-16 01:53