Report Industry Investment Rating - Not provided Core View - The report presents cross - market, inter - period, spot - futures, and cross - variety arbitrage tracking data for non - ferrous metals such as copper, zinc, aluminum, nickel, and lead on February 24, 2026 [1][3][4][5] Summary by Category Cross - Market Arbitrage Tracking - Copper: Spot price is 100275 in domestic and 12788 in LME, with a ratio of 7.80; March price is 100630 and 12895 respectively, ratio 7.82. Spot import equilibrium ratio is 7.83, profit - 565.83 [1] - Zinc: Spot price is 24340 domestically and 3322 in LME, ratio 7.33; March price is 24250 and 3353, ratio 4.97. Spot import equilibrium ratio is 8.23, profit - 3015.20 [1] - Aluminum: Spot price is 23160 domestically and 3028 in LME, ratio 7.65; March price is 23265 and 3063, ratio 7.62. Spot import equilibrium ratio is 8.29, profit - 1934.06 [1] - Nickel: Spot price is 133900 domestically and 17037 in LME, ratio 7.86. Spot import equilibrium ratio is 7.99, profit - 1190.59 [1] - Lead: Spot price is 16525 domestically and 1929 in LME, ratio 8.55; March price is 16700 and 1977, ratio 12.33. Spot import equilibrium ratio is 8.49, profit 114.28 [3] Inter - period Arbitrage Tracking - Copper: The spreads of next - month, March, April, and May relative to the spot month are 510, 760, 990, and 980 respectively, with theoretical spreads of 601, 1101, 1609, and 2117 [4] - Zinc: The spreads are 75, 130, 185, and 230, theoretical spreads 224, 353, 483, and 612 [4] - Aluminum: The spreads are 40, 110, 200, and 260, theoretical spreads 227, 355, 482, and 610 [4] - Lead: The spreads are 65, 70, 110, and 150, theoretical spreads 208, 312, 416, and 521 [4] - Nickel: The spreads are 1060, 1450, 1820, and 1870 [4] - Tin: The 5 - 1 spread is - 1740, theoretical spread 7569 [4] Spot - Futures Arbitrage Tracking - Copper: The spreads of the current - month and next - month contracts relative to the spot are - 340 and 170, theoretical spreads 49 and 677 [4] - Zinc: The spreads are - 220 and - 145, theoretical spreads 54 and 195 (also mentioned 79 and 223) [4][5] - Lead: The spreads are 105 and 170, theoretical spreads 95 and 206 [5] Cross - Variety Arbitrage Tracking - The ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc in Shanghai (triple - continuous) are 4.15, 4.33, 6.03, 0.96, 1.39, and 0.69 respectively; in London (triple - continuous) are 3.86, 4.19, 6.57, 0.92, 1.57, and 0.59 [5]
有色套利早报-20260224
Yong An Qi Huo·2026-02-24 01:27