Report Industry Investment Rating - Not provided in the given content Report's Core View - The report presents cross - market, cross - period, spot - futures, and cross - variety arbitrage tracking data for various non - ferrous metals including copper, zinc, aluminum, nickel, lead, and tin on December 12, 2025 [1][4][5] Summary by Related Catalogs Cross - Market Arbitrage Tracking - Copper: On December 12, 2025, the domestic spot price was 92450, LME spot price was 11650, with a spot ratio of 7.88. The import profit for spot was - 1540.94, and the export profit was 112.29. The three - month domestic price was 92310, LME price was 11625, with a ratio of 7.99 [1] - Zinc: The domestic spot price was 23120, LME spot price was 3260, with a spot ratio of 7.09. The import profit for spot was - 4336.08. The three - month domestic price was 23000, LME price was 3088, with a ratio of 5.57 [1] - Aluminum: The domestic spot price was 21880, LME spot price was 2846, with a spot ratio of 7.69. The import profit for spot was - 1750.04. The three - month domestic price was 21970, LME price was 2873, with a ratio of 7.68 [1] - Nickel: The domestic spot price was 118600, LME spot price was 14458, with a spot ratio of 8.20. The import profit for spot was - 1145.68 [1] - Lead: The domestic spot price was 17100, LME spot price was 1941, with a spot ratio of 8.80. The import profit for spot was 254.08. The three - month domestic price was 17160, LME price was 1989, with a ratio of 11.59 [1][3] Cross - Period Arbitrage Tracking - Copper: The spreads between the next - month, three - month, four - month, and five - month contracts and the spot - month contract were 430, 530, 510, and 400 respectively, while the theoretical spreads were 561, 1020, 1488, and 1956 [4] - Zinc: The spreads were - 85, - 80, - 45, - 45, and the theoretical spreads were 218, 343, 467, 592 [4] - Aluminum: The spreads were 50, 110, 155, 195, and the theoretical spreads were 220, 342, 463, 584 [4] - Lead: The spreads were 90, 95, 80, 115, and the theoretical spreads were 210, 317, 423, 529 [4] - Nickel: The spreads were - 280, - 90, 140, 350 [4] - Tin: The 5 - 1 spread was 620, and the theoretical spread was 6602 [4] Spot - Futures Arbitrage Tracking - Copper: The spreads between the current - month and next - month contracts and the spot were - 855 and - 425, while the theoretical spreads were 40 and 613 [4] - Zinc: The spreads were - 40 and - 125, and the theoretical spreads were 65 and 200 [4][5] - Lead: The spreads were - 35 and 55, and the theoretical spreads were 83 and 196 [5] Cross - Variety Arbitrage Tracking - On December 12, 2025, for cross - variety ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc, the Shanghai (three - continuous) ratios were 4.01, 4.20, 5.38, 0.96, 1.28, 0.75 respectively, and the London (three - continuous) ratios were 3.71, 4.09, 5.97, 0.91, 1.46, 0.62 [5]
有色套利早报-20251212
Yong An Qi Huo·2025-12-12 01:57