Report Industry Investment Rating - No information provided Core View - The report presents cross - market, cross - period, and cross - variety arbitrage tracking data for non - ferrous metals including copper, zinc, aluminum, lead, nickel, and tin on October 29, 2025 [1][4][5] Summary by Related Catalogs Cross - Market Arbitrage Tracking - Copper: On October 29, 2025, the domestic spot price was 87,900, the LME spot price was 10,882, and the spot price ratio was 8.12; the domestic three - month price was 86,950, the LME three - month price was 10,902, and the three - month price ratio was 8.06. There was no data on spot import and export profitability [1] - Zinc: The domestic spot price was 22,260, the LME spot price was 3,207, and the spot price ratio was 6.94; the domestic three - month price was 22,335, the LME three - month price was 3,036, and the three - month price ratio was 5.73. The equilibrium ratio for spot import was 8.47, with a loss of 4,911.54 [1] - Aluminum: The domestic spot price was 21,160, the LME spot price was 2,863, and the spot price ratio was 7.39; the domestic three - month price was 21,180, the LME three - month price was 2,861, and the three - month price ratio was 7.42. The equilibrium ratio for spot import was 8.31, with no profitability data [1] - Nickel: The domestic spot price was 123,450, the LME spot price was 14,978, and the spot price ratio was 8.24. The equilibrium ratio for spot import was 8.15, with a loss of 1,509.48 [1] - Lead: The domestic spot price was 17,225, the LME spot price was 1,978, and the spot price ratio was 8.71; the domestic three - month price was 17,365, the LME three - month price was 2,014, and the three - month price ratio was 11.11. The equilibrium ratio for spot import was 8.71, with no profitability data [3] Cross - Period Arbitrage Tracking - Copper: On October 29, 2025, the spreads between the next - month, three - month, four - month, and five - month contracts and the spot - month contract were - 1410, - 1440, - 1430, and - 1500 respectively, while the theoretical spreads were 544, 986, 1437, and 1888 respectively [4] - Zinc: The spreads were 0, 25, 40, and 75 respectively, and the theoretical spreads were 215, 335, 456, and 576 respectively [4] - Aluminum: The spreads were - 165, - 125, - 110, and - 110 respectively, and the theoretical spreads were 218, 336, 455, and 573 respectively [4] - Lead: The spreads were - 170, - 160, - 160, and - 80 respectively, and the theoretical spreads were 213, 321, 430, and 539 respectively [4] - Nickel: The spreads were - 1500, - 1320, - 1100, and - 800 respectively [4] - Tin: The 5 - 1 spread was - 940, and the theoretical spread was 5858 [4] Spot - Futures Arbitrage Tracking - Copper: The spreads between the current - month and next - month contracts and the spot were 515 and - 895 respectively, and the theoretical spreads were 415 and 695 respectively [4] - Zinc: The spreads were 50 and 50 respectively, and the theoretical spreads were 146 and 276 respectively [4] - Lead: The spreads were 300 and 130 respectively, and the theoretical spreads were 181 and 295 respectively [5] Cross - Variety Arbitrage Tracking - On October 29, 2025, the ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc for Shanghai (triple - continuous) were 3.89, 4.11, 5.01, 0.95, 1.22, and 0.78 respectively, and for London (triple - continuous) were 3.61, 3.81, 5.45, 0.95, 1.43, and 0.66 respectively [5]
有色套利早报-20251029
Yong An Qi Huo·2025-10-29 01:48