Report Industry Investment Rating - No information provided Core Viewpoints - The report presents cross - market, cross - period, and cross - variety arbitrage tracking data for various non - ferrous metals including copper, zinc, aluminum, nickel, lead, and tin on October 31, 2025 [1][3][4] Summary by Related Catalogs Cross - Market Arbitrage Tracking - Copper: On October 31, 2025, the domestic spot price was 88050, LME spot price was 11021, with a spot ratio of 8.04; the domestic March price was 87970, LME March price was 11042, with a March ratio of 7.97. The equilibrium ratio for spot import was 8.08 [1] - Zinc: The domestic spot price was 22250, LME spot price was 3159, with a spot ratio of 7.04; the domestic March price was 22405, LME March price was 3063, with a March ratio of 5.67. The equilibrium ratio for spot import was 8.50, and the loss for spot import was 4588.92 [1] - Aluminum: The domestic spot price was 21200, LME spot price was 2856, with a spot ratio of 7.42; the domestic March price was 21280, LME March price was 2861, with a March ratio of 7.42. The equilibrium ratio for spot import was 8.32, and the loss for spot import was 2576.57 [1] - Nickel: The domestic spot price was 123500, LME spot price was 15070, with a spot ratio of 8.19. The equilibrium ratio for spot import was 8.17, and the loss for spot import was 1464.30 [1] - Lead: The domestic spot price was 17150, LME spot price was 1991, with a spot ratio of 8.64; the domestic March price was 17355, LME March price was 2025, with a March ratio of 11.04. The equilibrium ratio for spot import was 8.72, and the loss for spot import was 160.71 [3] Cross - Period Arbitrage Tracking - Copper: The spreads between the next - month and spot - month, March and spot - month, April and spot - month, May and spot - month were - 720, - 710, - 720, - 710 respectively, and the theoretical spreads were 545, 989, 1441, 1894 respectively [4] - Zinc: The spreads were - 15, 25, 45, 70 respectively, and the theoretical spreads were 215, 336, 457, 578 respectively [4] - Aluminum: The spreads were - 25, 10, 25, 35 respectively, and the theoretical spreads were 217, 336, 454, 572 respectively [4] - Lead: The spreads were - 20, - 15, - 10, 10 respectively, and the theoretical spreads were 212, 320, 428, 535 respectively [4] - Nickel: The spreads were - 270, - 140, 130, 360 respectively [4] - Tin: The 5 - 1 spread was - 740, and the theoretical spread was 5866 [4] Spot - Futures Arbitrage Tracking - Copper: The spreads between the current - month contract and spot, next - month contract and spot were 655, - 65 respectively, and the theoretical spreads were 404, 785 respectively [4] - Zinc: The spreads were 130, 115 respectively, and the theoretical spreads were 144, 267 respectively [5] - Lead: The spreads were 220, 200 respectively, and the theoretical spreads were 162, 276 respectively [5] Cross - Variety Arbitrage Tracking - On October 31, 2025, the cross - variety ratios for copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, lead/zinc in Shanghai (three - continuous) were 3.93, 4.13, 5.07, 0.95, 1.23, 0.77 respectively, and in London (three - continuous) were 3.59, 3.81, 5.41, 0.94, 1.42, 0.66 respectively [5]
有色套利早报-20251031
Yong An Qi Huo·2025-10-31 01:35