Report Summary 1. Report Industry Investment Rating No industry investment rating information is provided in the report. 2. Core View The report presents the daily data briefing of non - ferrous and precious metals on October 23, 2025, including the prices, price differences, inventories, and import - export profits and losses of various metals such as gold, silver, copper, aluminum, zinc, lead, nickel, and tin. 3. Summary by Metal Category Gold (AU) - Prices: On October 23, 2025, the Shanghai Gold (SHFE) main contract closed at 942.28 yuan/gram, down 10.28 yuan from the previous trading day; the COMEX gold main contract closed at 4116.60 US dollars/ounce, with a change of 422.00 US dollars compared to the previous trading day [1]. - Basis: The domestic basis (gold T + D - main contract) was 0.71 yuan/gram, and the overseas basis (LBMA gold spot - COMEX AU01) was - 60.20 US dollars/ounce [1]. Silver (AG) - Prices: The SHFE silver main contract closed at 11467 yuan/kilogram on October 23, 2025, down 550 yuan from the previous trading day; the COMEX silver main contract closed at 0.02 US dollars/ounce, with a change of 48.18 US dollars compared to the previous trading day [1]. - Basis: The domestic basis (AG(T + D) - main contract) was 2 yuan/gram, and the overseas basis (LBMA silver spot - COMEX AG01) was - 2.21 US dollars/ounce [1]. Copper (CU, BC) - Prices: The SHFE copper main contract closed at 86070 yuan/ton on October 23, 2025; the LME copper 3M closed at 94.00 US dollars/ton at 15:00 [1]. - Price Differences: The SHFE copper monthly spread (CU00 - CU01) was - 40 yuan/ton, and the international copper monthly spread (BC00 - BC01) was 120 yuan/ton [1]. - Inventories: The SHFE copper warehouse receipt inventory was 2,757 tons, and the LME copper warehouse receipt inventory was 136850 tons [1]. - Import - Export Profits and Losses: The copper spot import profit and loss was 65.30 yuan/ton, and the copper 3M import profit and loss was - 328.43 yuan/ton [1]. Aluminum and Alumina (AL, AO) - Prices: The SHFE aluminum main contract closed at 21165 yuan/ton on October 23, 2025; the alumina main contract closed at 2838 yuan/ton [1]. - Price Differences: The SHFE aluminum monthly spread (AL00 - AL01) was - 30 yuan/ton, and the alumina monthly spread (A000 - A001) was - 3 yuan/ton [1]. - Inventories: The SHFE aluminum warehouse receipt inventory was - 376 tons, and the alumina warehouse receipt inventory was 220361 tons [1]. - Import - Export Profits and Losses: The electrolytic aluminum spot import profit and loss was - 2133.36 yuan/ton, and the electrolytic aluminum 3M import profit and loss was - 106.93 yuan/ton [1]. - Profits: The alumina plant profit was - 29.03 yuan/ton, and the electrolytic aluminum plant smelting profit was 72.03 yuan/ton [1]. Zinc (ZN) - Prices: The SHFE zinc main contract closed at 22345 yuan/ton on October 23, 2025; the LME zinc 3M closed at 32 US dollars/ton [1]. - Price Differences: The SHFE zinc monthly spread (ZN00 - ZN01) was - 30 yuan/ton, and the LME zinc 0 - 3 spread was 348.24 US dollars/ton [1]. - Inventories: The SHFE zinc warehouse receipt inventory was 320 tons, and the LME zinc warehouse receipt inventory was - 35300 tons [1]. - Import - Export Profits and Losses: The refined zinc spot import profit and loss was - 5420.07 yuan/ton, and the refined zinc 3M import profit and loss was - 221.87 yuan/ton [1]. - Profits: The refined zinc plant smelting profit was - 502.00 yuan/ton [1]. Lead (PB) - Prices: The SHFE lead main contract closed at 515 yuan/ton on October 23, 2025; the LME lead 3M closed at 20.50 US dollars/ton [1]. - Price Differences: The SHFE lead monthly spread (PB00 - PB01) was 50 yuan/ton, and the LME lead 0 - 3 spread was - 39.73 US dollars/ton [1]. - Inventories: The SHFE lead warehouse receipt inventory was 23734 tons, and the LME lead warehouse receipt inventory was - 244.125 tons [1]. - Import - Export Profits and Losses: The refined lead spot import profit and loss was 16.69 yuan/ton, and the refined lead 3M import profit and loss was 121.17 yuan/ton [1]. - Profits: The regenerated lead plant smelting profit was 32.90 yuan/ton [1]. Nickel and Stainless Steel (NI, SS) - Prices: The SHFE nickel main contract closed at 121380 yuan/ton on October 23, 2025; the stainless steel main contract closed at - 170 yuan/ton [1]. - Price Differences: The SHFE nickel monthly spread (NI00 - NI01) was 30 yuan/ton, and the stainless steel monthly spread (SS00 - SS01) was 75 yuan/ton [1]. - Inventories: The SHFE nickel warehouse receipt inventory was 26881 tons, and the stainless steel warehouse receipt inventory was - 121 tons [1]. - Import - Export Profits and Losses: The refined nickel spot import profit and loss was 9.24 yuan/ton, and the refined nickel 3M import profit and loss was - 1863.65 yuan/ton [1]. Tin (SN) - Prices: The SHFE tin main contract closed at 281230 yuan/ton on October 23, 2025; the LME tin 3M closed at 35630 US dollars/ton [1]. - Price Differences: The SHFE tin monthly spread (SNOO - SN01) was - 50 yuan/ton, and the LME tin 0 - 3 spread was 231 US dollars/ton [1]. - Inventories: The SHFE tin warehouse receipt inventory was 5470 tons, and the LME tin warehouse receipt inventory was 2745 tons [1]. - Import - Export Profits and Losses: The refined tin spot import profit and loss was 711.82 yuan/ton [1]. - Processing Fees: The tin ore processing fee was 12000 yuan/ton [1].
有色及贵金属日度数据简报-20251023
Guo Tai Jun An Qi Huo·2025-10-23 10:01