有色套利早报-20251106

Group 1: Report Industry Investment Rating - Not provided in the content Group 2: Report Core View - The report provides cross - market, cross - period, spot - futures, and cross - variety arbitrage tracking data for non - ferrous metals including copper, zinc, aluminum, nickel, lead, and tin on November 6, 2025 [1][4][5] Group 3: Summary by Relevant Catalogs Cross - Market Arbitrage Tracking - Copper: Domestic spot price is 85,470, March price is 85,690, LME March price is 10,668, and the ratio is 8.00 [1] - Zinc: Domestic spot price is 22,500, March price is 22,690, LME March price is 3,072, and the ratio is 5.70 [1] - Aluminum: Domestic spot price is 21,300, March price is 21,435, LME March price is 2,857, and the ratio is 7.47 [1] - Nickel: Domestic spot price is 122,000, and the profit of spot import is - 1,264.30 [1] - Lead: Domestic spot price is 17,275, March price is 17,495, LME March price is 2,022, and the ratio is 11.16 [3] Cross - Period Arbitrage Tracking - Copper: The spreads of次月 - spot month, March - spot month, April - spot month, and May - spot month are - 30, - 10, 20, and 10 respectively, while the theoretical spreads are 531, 959, 1397, and 1834 [4] - Zinc: The spreads are 35, 75, 80, and 80 respectively, and the theoretical spreads are 216, 338, 460, and 582 [4] - Aluminum: The spreads are - 30, 10, 10, and 15 respectively, and the theoretical spreads are 218, 337, 456, and 576 [4] - Lead: The spreads are 85, 105, 95, and 80 respectively, and the theoretical spreads are 212, 320, 428, and 536 [4] - Nickel: The spreads of次月 - spot month, March - spot month, April - spot month, and May - spot month are 640, 840, 1020, and 1310 respectively [4] - Tin: The 5 - 1 spread is - 370, and the theoretical spread is 5834 [4] Spot - Futures Arbitrage Tracking - Copper: The spreads of the current - month contract - spot and the next - month contract - spot are 395 and 365 respectively, and the theoretical spreads are 259 and 727 [4] - Zinc: The spreads are 115 and 150 respectively, and the theoretical spreads are 131 and 254 [4][5] - Lead: The spreads are 115 and 200 respectively, and the theoretical spreads are 127 and 242 [5] Cross - Variety Arbitrage Tracking - The ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc in Shanghai (three - continuous) are 3.78, 4.00, 4.90, 0.94, 1.23, and 0.77 respectively [5]