有色套利早报-20260311

Report Summary Report Industry Investment Rating - Not provided Report Core View - The report presents cross - market, cross - period, spot - futures, and cross - variety arbitrage tracking data for non - ferrous metals including copper, zinc, aluminum, nickel, lead, and tin on March 11, 2026 [1][3][4][5] Summary by Related Catalogs Cross - Market Arbitrage Tracking - Copper: Spot domestic price is 101390, LME price is 12984, and the ratio is 7.69; March domestic price is 101750, LME price is 13076, and the ratio is 7.79. The equilibrium ratio for spot import is 7.80, with a profit of - 183.39, and a spot export profit of - 857.87 [1] - Zinc: Spot domestic price is 24210, LME price is 3311, and the ratio is 7.31; March domestic price is 24460, LME price is 3344, and the ratio is 4.99. The equilibrium ratio for spot import is 8.19, with a profit of - 2908.57 [1] - Aluminum: Spot domestic price is 24470, LME price is 3386, and the ratio is 7.23; March domestic price is 24965, LME price is 3362, and the ratio is 7.35. The equilibrium ratio for spot import is 8.26, with a profit of - 3500.37 [1] - Nickel: Spot domestic price is 136400, LME price is 17182, and the ratio is 7.94. The equilibrium ratio for spot import is 7.94, with a profit of - 115.51 [1] - Lead: Spot domestic price is 16500, LME price is 1889, and the ratio is 8.75; March domestic price is 16680, LME price is 1937, and the ratio is 12.55. The equilibrium ratio for spot import is 8.47, with a profit of 523.76 [3] Cross - Period Arbitrage Tracking - Copper: The spreads between the next - month, March, April, May and the spot - month are 1640, 1870, 1940, 1850 respectively, and the theoretical spreads are 601, 1101, 1609, 2118 respectively [4] - Zinc: The spreads between the next - month, March, April, May and the spot - month are 105, 150, 180, 180 respectively, and the theoretical spreads are 225, 355, 486, 616 respectively [4] - Aluminum: The spreads between the next - month, March, April, May and the spot - month are - 120, - 35, 15, 50 respectively, and the theoretical spreads are 236, 373, 510, 647 respectively [4] - Lead: The spreads between the next - month, March, April, May and the spot - month are 10, 40, 85, 110 respectively, and the theoretical spreads are 208, 312, 417, 521 respectively [4] - Nickel: The spreads between the next - month, March, April, May and the spot - month are 1130, 1620, 1900, 2090 respectively [4] - Tin: The 5 - 1 spread is - 2100, and the theoretical spread is 8097 [4] Spot - Futures Arbitrage Tracking - Copper: The spreads between the current - month and next - month contracts and the spot are - 1505 and 135 respectively, and the theoretical spreads are - 55 and 743 respectively [4] - Zinc: The spreads between the current - month and next - month contracts and the spot are 100 and 205 respectively, and the theoretical spreads are 119, 259, 172, 300 respectively [4][5] - Lead: The spreads between the current - month and next - month contracts and the spot are 140 and 150 respectively, and the theoretical spreads are 111 and 222 respectively [5] Cross - Variety Arbitrage Tracking - The ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, lead/zinc are 4.16, 4.08, 6.10, 1.02, 1.50, 0.68 respectively in Shanghai (three - continuous), and 3.93, 3.86, 6.76, 1.02, 1.75, 0.58 respectively in London (three - continuous) [5]