有色套利早报-20251218
Yong An Qi Huo·2025-12-18 02:13

Group 1: Report Industry Investment Rating - No relevant content found Group 2: Core View of the Report - The report provides cross - market, cross - period, spot - futures, and cross - variety arbitrage tracking information for non - ferrous metals including copper, zinc, aluminum, nickel, and lead on December 18, 2025 [1][4][5] Group 3: Cross - Market Arbitrage Tracking - Copper: Domestic spot price is 92,200, March price is 92,890, LME March price is 11,734, and the ratio is 7.87 [1] - Zinc: Domestic spot price is 23,020, March price is 22,980, LME March price is 3,059, and the ratio is 5.49 [1] - Aluminum: Domestic spot price is 21,750, March price is 21,960, LME March price is 2,884, and the ratio is 7.60 [1] - Nickel: Domestic spot price is 114,650, and the spot import profit is - 1,660.24 [1] - Lead: Domestic spot price is 16,700, March price is 16,750, LME March price is 1,943, and the ratio is 11.80 [3] Group 4: Cross - Period Arbitrage Tracking - Copper: The spreads between different months and the spot month are 980, 1050, 1030, 960 respectively, while the theoretical spreads are 561, 1020, 1489, 1957 [4] - Zinc: The spreads are - 55, - 50, - 40, - 25 respectively, and the theoretical spreads are 218, 342, 466, 591 [4] - Aluminum: The spreads are 135, 180, 220, 255 respectively, and the theoretical spreads are 220, 341, 462, 583 [4] - Lead: The spreads are - 85, - 75, - 85, - 50 respectively, and the theoretical spreads are 209, 314, 419, 525 [4] - Nickel: The spreads are 1710, 1920, 2210, 2500 respectively [4] - Tin: The 5 - 1 spread is 1490, and the theoretical spread is 6762 [4] Group 5: Spot - Futures Arbitrage Tracking - Copper: The spreads of the current - month and next - month contracts minus the spot are - 275 and 705 respectively, and the theoretical spreads are 492 and 1145 [4] - Zinc: The spreads are 10 and - 45 respectively, and the theoretical spreads are 184 and 318 [4][5] - Lead: The spreads are 125 and 40 respectively, and the theoretical spreads are 195 and 306 [5] Group 6: Cross - Variety Arbitrage Tracking - The ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc in Shanghai (three - continuous contracts) are 4.04, 4.23, 5.55, 0.96, 1.31, 0.73 respectively [5]