Report Industry Investment Rating - Not provided Core Viewpoints - 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 January 26, 2026 [1][3] Summary by Related Catalogs Cross - Market Arbitrage Tracking - Copper: Spot price in China is 100680, LME price is 12859, with a ratio of 7.78; March price in China is 101540, LME price is 12926, ratio 7.84. Spot import equilibrium ratio is 7.89, profit is - 590.48; spot export profit is - 176.73 [1] - Zinc: Spot price in China is 24620, LME price is 3206, ratio 7.68; March price in China is 24640, LME price is 3239, ratio 5.30. Spot import equilibrium ratio is 8.32, profit is - 2044.55 [1] - Aluminum: Spot price in China is 24110, LME price is 3142, ratio 7.67; March price in China is 24340, LME price is 3146, ratio 7.73. Spot import equilibrium ratio is 8.31, profit is - 2017.82 [1] - Nickel: Spot price in China is 144550, LME price is 18492, ratio 7.82. Spot import equilibrium ratio is 7.99, profit is - 1277.12 [1] - Lead: Spot price in China is 16950, LME price is 1981, ratio 8.55; March price in China is 17155, LME price is 2026, ratio 12.16. Spot import equilibrium ratio is 8.54, profit is 21.56 [3] Cross - Period Arbitrage Tracking - Copper: The spreads of next month - spot month, March - spot month, April - spot month, and May - spot month are 900, 1100, 1270, and 1280 respectively; theoretical spreads are 604, 1106, 1618, and 2129 [3] - Zinc: The spreads of next month - spot month, March - spot month, April - spot month, and May - spot month are 230, 285, 315, and 305 respectively; theoretical spreads are 225, 356, 486, and 617 [3] - Aluminum: The spreads of next month - spot month, March - spot month, April - spot month, and May - spot month are 300, 350, 405, and 420 respectively; theoretical spreads are 231, 363, 495, and 627 [3] - Lead: The spreads of next month - spot month, March - spot month, April - spot month, and May - spot month are 20, 80, 115, and 150 respectively; theoretical spreads are 210, 317, 423, and 530 [3] - Nickel: The spreads of next month - spot month, March - spot month, April - spot month, and May - spot month are 5860, 6000, 6230, and 6180 respectively [3] - Tin: The 5 - 1 spread is 2700, theoretical spread is 8737 [3] Spot - Futures Arbitrage Tracking - Copper: The spreads of current - month contract - spot and next - month contract - spot are - 370 and 530 respectively; theoretical spreads are 444 and 1130 [3] - Zinc: The spreads of current - month contract - spot and next - month contract - spot are - 265 and - 35 respectively; theoretical spreads are 165 and 308 (also 158 and 345) [3] - Lead: The spreads of current - month contract - spot and next - month contract - spot are 125 and 145 respectively; theoretical spreads are 173 and 287 [3] 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 4.12, 4.17, 5.92, 0.99, 1.42, and 0.70 respectively; in London (three - continuous) are 4.02, 4.14, 6.47, 0.97, 1.56, and 0.62 respectively [3]
有色套利早报-20260126
Yong An Qi Huo·2026-01-26 02:29