Report Industry Investment Rating - Not mentioned in the provided content Report's Core View - 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 22, 2025 [1][3][4] Summary by Related Catalogs Cross - Market Arbitrage Tracking - Copper: On October 22, 2025, the domestic spot price was 85720, the LME spot price was 10639, and the spot import equilibrium ratio was 8.09. The domestic three - month price was 85350, and the LME three - month price was 10670 [1] - Zinc: The domestic spot price was 21950, the LME spot price was 3278, and the spot import equilibrium ratio was 8.50 with a loss of 5922.81. The domestic three - month price was 22000, and the LME three - month price was 2979 [1] - Aluminum: The domestic spot price was 20970, the LME spot price was 2771, and the spot import equilibrium ratio was 8.37 with a loss of 2234.72. The domestic three - month price was 20975, and the LME three - month price was 2770 [1] - Nickel: The domestic spot price was 123950, the LME spot price was 15009, and the spot import equilibrium ratio was 8.19 with a loss of 1173.88 [1] - Lead: The domestic spot price was 16975, the LME spot price was 1947, and the spot import equilibrium ratio was 8.83 with a loss of 181.73. The domestic three - month price was 17155, and the LME three - month price was 1987 [3] Cross - Period Arbitrage Tracking - Copper: On October 22, 2025, the spreads between the next month, three - month, four - month, and five - month contracts and the spot month were 20, - 30, - 60, - 60 respectively, while the theoretical spreads were 529, 956, 1392, 1828 [4] - Zinc: The spreads were 115, 145, 180, 220, and the theoretical spreads were 212, 331, 449, 567 [4] - Aluminum: The spreads were 75, 85, 95, 95, and the theoretical spreads were 215, 332, 448, 565 [4] - Lead: The spreads were 95, 95, 100, 160, and the theoretical spreads were 210, 317, 423, 529 [4] - Nickel: The spreads were 670, 820, 950, 1230 [4] - Tin: The spread between the 5 - month and 1 - month contracts was - 150, and the theoretical spread was 5818 [4] Spot - Futures Arbitrage Tracking - Copper: The spreads between the current - month and next - month contracts and the spot were - 325 and - 305 respectively, while the theoretical spreads were 398 and 874 [4] - Zinc: The spreads were - 95 and 20, and the theoretical spreads were 153 and 299 [4] - Lead: The spreads were 85 and 180, and the theoretical spreads were 175 and 289 [5] Cross - Variety Arbitrage Tracking - On October 22, 2025, the ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc in Shanghai (three - continuous) were 3.88, 4.07, 4.98, 0.95, 1.22, 0.78 respectively, and in London (three - continuous) were 3.54, 3.81, 5.32, 0.93, 1.40, 0.67 [5]
有色套利早报-20251022
Yong An Qi Huo·2025-10-22 01:27