Report Industry Investment Rating - No relevant content found Core View of the Report - The report provides multi - dimensional arbitrage tracking data for various non - ferrous metals including copper, zinc, aluminum, nickel, lead, and tin on November 11, 2025, covering cross - market, cross - term, spot - futures, and cross - variety arbitrage [1][2][3][6] Summary by Related Catalogs Cross - Market Arbitrage Tracking - Copper: On November 11, 2025, the domestic spot price was 86,530, the LME price was 10,765, with a ratio of 7.99; the three - month domestic price was 86,520, the LME price was 10,780, with a ratio of 8.03. The equilibrium ratio for spot import was 8.08, and the profit was - 519.15. The profit for spot export was 112.61 [1] - Zinc: The domestic spot price was 22,560, the LME price was 3,254, with a ratio of 6.93; the three - month domestic price was 22,710, the LME price was 3,077, with a ratio of 5.69. The equilibrium ratio for spot import was 8.50, and the profit was - 5,080.28 [1] - Aluminum: The domestic spot price was 21,490, the LME price was 2,866, with a ratio of 7.49; the three - month domestic price was 21,725, the LME price was 2,882, with a ratio of 7.52. The equilibrium ratio for spot import was 8.33, and the profit was - 2,390.99 [1] - Nickel: The domestic spot price was 122,800, the LME price was 14,899, with a ratio of 8.24. The equilibrium ratio for spot import was 8.18, and the profit was - 1,720.63 [1] - Lead: The domestic spot price was 17,300, the LME price was 2,042, with a ratio of 8.47; the three - month domestic price was 17,505, the LME price was 2,054, with a ratio of 11.02. The equilibrium ratio for spot import was 8.72, and the profit was - 503.78 [6] Cross - Term Arbitrage Tracking - Copper: The spreads between the next - month, three - month, four - month, and five - month contracts and the spot - month contract were 560, 600, 610, and 610 respectively, while the theoretical spreads were 532, 961, 1400, and 1838 [2] - Zinc: The spreads were 10, 50, 45, and 85, and the theoretical spreads were 216, 339, 461, and 583 [2] - Aluminum: The spreads were 130, 175, 175, and 185, and the theoretical spreads were 219, 339, 458, and 578 [2] - Lead: The spreads were 145, 145, 130, and 155, and the theoretical spreads were 212, 320, 427, and 535 [2] - Nickel: The spreads were 540, 710, 920, and 1190 [2] - Tin: The spread for 5 - 1 was - 630, and the theoretical spread was 5926 [2] Spot - Futures Arbitrage Tracking - Copper: The spreads between the current - month and next - month contracts and the spot were - 570 and - 10 respectively, and the theoretical spreads were 59 and 619 [2] - Zinc: The spreads were 100 and 110, and the theoretical spreads were 103 and 235 [2] - Lead: The spreads were 60 and 205, and the theoretical spreads were 100 and 215 [3] Cross - Variety Arbitrage Tracking - On November 11, 2025, for cross - variety arbitrage, the ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc in Shanghai (three - continuous) were 3.81, 3.98, 4.94, 0.96, 1.24, and 0.77 respectively; in London (three - continuous), they were 3.50, 3.76, 5.24, 0.93, 1.39, and 0.67 [3]
有色套利早报-20251111
Yong An Qi Huo·2025-11-11 00:51