有色套利早报 研究中心有色团队 2026/03/05 铜：跨市套利跟踪 2026/03/05 国内价格 LME价格 比价 现货 101490 13011 7.81 三月 101910 13030 7.86 均衡比价 盈利 现货进口 7.83 -821.76 现货出口 -770.28 锌：跨市套利跟踪 2026/03/05 国内价格 LME价格 比价 现货 24490 3270 7.49 三月 24540 3287 5.11 均衡比价 盈利 现货进口 8.23 -2420.99 铝：跨市套利跟踪 2026/03/05 国内价格 LME价格 比价 现货 24390 3305 7.38 三月 24865 3303 7.46 均衡比价 盈利 现货进口 8.26 -2912.81 镍：跨市套利跟踪 2026/03/05 国内价格 LME价格 比价 现货 135600 17121 7.92 均衡比价 盈利 现货进口 7.98 -105.23 铅：跨市套利跟踪 2026/03/05 国内价格 LME价格 比价 现货 16625 1896 8.74 三月 16840 1945 12.63 均衡比价 盈利 现货进口 8.49 ...

有色套利早报 研究中心有色团队 2026/03/04 铜：跨市套利跟踪 2026/03/04 国内价格 LME价格 比价 现货 101860 13101 7.87 三月 102340 13145 7.80 均衡比价 盈利 现货进口 7.86 -1476.86 现货出口 -55.12 锌：跨市套利跟踪 2026/03/04 国内价格 LME价格 比价 现货 24390 3279 7.44 三月 24430 3299 5.12 均衡比价 盈利 现货进口 8.25 -2678.48 铝：跨市套利跟踪 2026/03/04 国内价格 LME价格 比价 现货 23950 3186 7.51 三月 23990 3182 7.66 均衡比价 盈利 现货进口 8.29 -2471.36 镍：跨市套利跟踪 2026/03/04 国内价格 LME价格 比价 现货 133700 17022 7.85 均衡比价 盈利 现货进口 8.00 -206.52 锌 当月合约-现货 次月合约-现货 价差 390 -20 理论价差 189 263 铅 当月合约-现货 次月合约-现货 价差 195 190 理论价差 145 257 跨品种套利跟踪 ...

投资咨询业务资格：证监许可【2011】1778 号 期货研究报告 宝城期货品种套利数据日报（2026 年 3 月 2 日） 一、动力煤 | 商品 | | 动力煤 | （元/吨） | | | --- | --- | --- | --- | --- | | 日期 | 基差 | 5月-1月 | 9月-1月 | 9月-5月 | | 2026/02/27 | -56.4 | 0.0 | 0.0 | 0.0 | | 2026/02/26 | -62.4 | 0.0 | 0.0 | 0.0 | | 2026/02/25 | -69.4 | 0.0 | 0.0 | 0.0 | | 2026/02/24 | -74.4 | 0.0 | 0.0 | 0.0 | | 2026/02/13 | -83.4 | 0.0 | 0.0 | 0.0 | www.bcqhgs.com 1 杭州市求是路8号公元大厦东南裙楼1-5层 期货研究报告 二、能源化工 www.bcqhgs.com 2 杭州市求是路8号公元大厦东南裙楼1-5层 2026/02/27 2026/02/26 2026/02/25 2026/02/24 2026/02/13 2 ...

铅：跨市套利跟踪 2026/02/27 有色套利早报 研究中心有色团队 2026/02/27 铜：跨市套利跟踪 2026/02/27 国内价格 LME价格 比价 现货 101830 13256 7.70 三月 102930 13326 7.70 均衡比价 盈利 现货进口 7.78 -786.94 现货出口 68.84 锌：跨市套利跟踪 2026/02/27 国内价格 LME价格 比价 现货 24460 3366 7.27 三月 24625 3383 4.95 均衡比价 盈利 现货进口 8.16 -2999.77 铝：跨市套利跟踪 2026/02/27 国内价格 LME价格 比价 现货 23490 3151 - 三月 23920 3164 7.52 均衡比价 盈利 现货进口 8.20 - 镍：跨市套利跟踪 2026/02/27 国内价格 LME价格 比价 现货 138000 17805 7.75 均衡比价 盈利 现货进口 7.91 31.99 国内价格 LME价格 比价 现货 16575 1944 8.51 三月 16800 1990 12.34 均衡比价 盈利 现货进口 8.42 182.48 免责声明: 以 ...

Report Industry Investment Rating No information provided in the report. Core Viewpoint The report is a daily report on futures variety arbitrage data, presenting the basis, inter - period spreads, and inter - variety spreads of various futures varieties on different dates, which helps investors understand the price relationships and market conditions of different futures varieties. Summary by Directory 1.动力煤 - The basis values of thermal coal on different dates from February 12 to February 26, 2026 are - 90.4, - 83.4, - 74.4, - 69.4, - 62.4 respectively, and the 5 - month to 1 - month, 9 - month to 1 - month, and 9 - month to 5 - month spreads are all 0.0 [1][2] 2.能源化工 (1) Energy Commodities - The basis values of fuel oil, INE crude oil, and the ratio of crude oil to asphalt on different dates from February 12 to February 26, 2026 are presented, such as the basis of INE crude oil on February 26 is 51.60 [7] (2) Chemical Commodities - **Basis**: The basis values of rubber, methanol, PTA, LLDPE, V, and PP on different dates from February 12 to February 26, 2026 are provided. For example, the basis of rubber on February 26 is - 175 [9] - **Inter - period spreads**: The 5 - month to 1 - month, 9 - month to 1 - month, and 9 - month to 5 - month spreads of rubber, methanol, PTA, LLDPE, PVC, PP, and ethylene glycol are given. For example, the 5 - month to 1 - month spread of rubber is - 475 [11] - **Inter - variety spreads**: The inter - variety spreads of LLDPE - PVC, LLDPE - PP, PP - PVC, and PP - 3 * methanol on different dates from February 12 to February 26, 2026 are presented. For example, the LLDPE - PVC spread on February 26 is 1844 [11] 3.黑色 - **Basis**: The basis values of rebar, iron ore, coke, and coking coal on different dates from February 12 to February 26, 2026 are provided. For example, the basis of rebar on February 26 is 137.0 [21] - **Inter - period spreads**: The 5 - month to 1 - month, 9 - month (10) to 1 - month, and 9 - month (10) to 5 - month spreads of rebar, iron ore, coke, and coking coal are given. For example, the 5 - month to 1 - month spread of rebar is - 64.0 [20] - **Inter - variety spreads**: The inter - variety spreads of rebar/iron ore, rebar/coke, coke/coking coal, and rebar - hot rolled coil on different dates from February 12 to February 26, 2026 are presented. For example, the rebar/iron ore ratio on February 26 is 4.10 [20] 4.有色金属 (1) Domestic Market - The domestic basis values of copper, aluminum, zinc, lead, nickel, and tin on different dates from February 12 to February 26, 2026 are provided. For example, the basis of copper on February 26 is - 1010 [30] (2) London Market - The LME spreads, Shanghai - London ratios, CIF prices, domestic spot prices, and import profit and loss of copper, aluminum, zinc, lead, nickel, and tin on February 26, 2026 are presented. For example, the LME spread of copper is (69.53) [35] 5.农产品 - **Basis**: The basis values of soybeans No.1, soybeans No.2, soybean meal, soybean oil, and corn on different dates from February 12 to February 26, 2026 are provided. For example, the basis of soybeans No.1 on February 26 is - 542 [41] - **Inter - period spreads**: The 5 - month to 1 - month, 9 - month to 1 - month, and 9 - month to 5 - month spreads of soybeans No.1, soybeans No.2, soybean meal, soybean oil, rapeseed meal, rapeseed oil, palm oil, corn, sugar, and cotton are given. For example, the 5 - month to 1 - month spread of soybeans No.1 is - 21 [41] - **Inter - variety spreads**: The inter - variety spreads of soybeans No.1/corn, soybeans No.2/corn, soybean oil/soybean meal, soybean meal - rapeseed meal, soybean oil - palm oil, rapeseed oil - soybean oil, and corn - corn starch on different dates from February 12 to February 26, 2026 are presented. For example, the soybeans No.1/corn ratio on February 26 is 2.00 [41] 6.股指期货 - **Basis**: The basis values of CSI 300, SSE 50, CSI 500, and CSI 1000 on different dates from February 12 to February 26, 2026 are provided. For example, the basis of CSI 300 on February 26 is - 1.44 [53] - **Inter - period spreads**: The spreads of the next - month to the current - month and the next - quarter to the current - quarter of CSI 300, SSE 50, CSI 500, and CSI 1000 are given. For example, the next - month to the current - month spread of CSI 300 is - 6.6 [51]

Report Summary 1. Investment Rating No investment rating for the industry is provided in the report. 2. Core View The report presents the daily arbitrage data of various futures varieties on February 26, 2026, including basis, inter - month spreads, and inter - commodity spreads for different sectors such as power coal, energy chemicals, black metals, non - ferrous metals, agricultural products, and stock index futures. 3. Summary by Category Power Coal - **Basis Data**: The basis of power coal on February 25, 2026, was - 69.4 yuan/ton, improving from - 74.4 yuan/ton on February 24 and - 90.4 yuan/ton on February 12. The spreads of 5 - 1, 9 - 1, and 9 - 5 months were all 0.0 [2]. Energy Chemicals - **Energy Commodities**: For fuel oil, the basis on February 25 was - 2.96 yuan/ton. The ratio of crude oil to asphalt and other relevant data are also presented, with the ratio on February 25 being 0.1420 [8]. - **Chemical Commodities**: - **Basis**: On February 25, the basis of rubber was - 140 yuan/ton, methanol was 6 yuan/ton, PTA was - 52 yuan/ton, LLDPE was 223 yuan/ton, V was - 223 yuan/ton, and PP was - 10 yuan/ton [10]. - **Inter - month Spreads**: For example, the 5 - 1 month spread of rubber was - 480 yuan/ton, and the 9 - 1 month spread of methanol was - 48 yuan/ton [12]. - **Inter - commodity Spreads**: On February 25, the spread of LLDPE - PVC was 1842 yuan/ton, and LLDPE - PP was 66 yuan/ton [12]. Black Metals - **Inter - month Spreads**: The 5 - 1 month spread of rebar was - 69.0 yuan/ton, and for iron ore, it was 29.0 yuan/ton. The 9(10) - 1 month spread of coke was - 83.0 yuan/ton [21]. - **Inter - commodity Spreads**: On February 25, the ratio of rebar to iron ore was 4.08, and the spread of rebar - hot rolled coil was - 158.0 yuan/ton [21]. - **Basis**: On February 25, the basis of rebar was 124.0 yuan/ton, iron ore was - 7.5 yuan/ton, coke was - 169.0 yuan/ton, and coking coal was 104.0 yuan/ton [22]. Non - ferrous Metals - **Domestic Market**: On February 25, the domestic basis of copper was - 160 yuan/ton, aluminum was - 475 yuan/ton, zinc was - 125 yuan/ton, lead was - 205 yuan/ton, nickel was 4340 yuan/ton, and tin was - 9160 yuan/ton [31]. - **London Market**: On February 25, the LME copper's LME spread was (76.52), the LME aluminum's was (20.40), and the import profit and loss of copper was (474.40) yuan/ton [36]. Agricultural Products - **Basis**: On February 25, the basis of soybeans No.1 was - 519 yuan/ton, soybeans No.2 was 120.45 yuan/ton, soybean meal was 269 yuan/ton, soybean oil was 452 yuan/ton, and corn was - 12 yuan/ton [42]. - **Inter - month Spreads**: The 5 - 1 month spread of soybeans No.1 was - 22 yuan/ton, and for soybean meal, it was - 165 yuan/ton [42]. - **Inter - commodity Spreads**: On February 25, the ratio of soybeans No.1 to corn was 2.00, and the spread of soybean meal - rapeseed meal was 512 yuan/ton [42]. Stock Index Futures - **Basis**: On February 25, the basis of CSI 300 was 21.31, SSE 50 was 4.49, CSI 500 was 28.77, and CSI 1000 was 14.35 [53]. - **Inter - month Spreads**: The spread of the next - month to the current - month contract of CSI 300 was - 14.0, and for the next - quarter to the current - quarter contract of CSI 1000 was - 180.0 [53].

有色套利早报 研究中心有色团队 2026/02/25 铜：跨市套利跟踪 2026/02/25 国内价格 LME价格 比价 现货 101575 12973 7.72 三月 101810 13062 7.81 均衡比价 盈利 现货进口 7.82 -409.36 现货出口 -841.74 锌：跨市套利跟踪 2026/02/25 国内价格 LME价格 比价 现货 24650 3366 7.32 三月 24680 3398 4.93 均衡比价 盈利 现货进口 8.20 -2960.82 铝：跨市套利跟踪 2026/02/25 国内价格 LME价格 比价 现货 23390 3087 7.58 三月 23635 3114 7.58 均衡比价 盈利 现货进口 8.25 -2082.64 镍：跨市套利跟踪 2026/02/25 国内价格 LME价格 比价 现货 136650 17470 7.82 均衡比价 盈利 现货进口 7.96 -1163.71 易后果，凡据此入市者，我公司不承担任何责任。未经公司授权，不得随意转载、复制、传播本网站中所有研究分析报告、行情分析视频等全 部或部分材料、内容。对可能因互联网软硬件设备故障或失灵 ...

1. Report Summary - This is the Baocheng Futures variety arbitrage data daily report for February 24, 2026, covering multiple sectors including thermal coal, energy chemicals, black metals, non - ferrous metals, agricultural products, and stock index futures [1] 2. Thermal Coal - **Base Price Data**: From February 9 to February 13, 2026, the base price of thermal coal showed a trend of narrowing negative values, from -104.4 yuan/ton to -83.4 yuan/ton [2] 3. Energy Chemicals 3.1 Energy Commodities - **Base Price**: Data for fuel oil, crude oil, and asphalt base prices are provided from February 9 to February 13, 2026 [7] 3.2 Chemical Commodities - **Base Price**: Base price data for rubber, methanol, PTA, LLDPE, PVC, and PP from February 9 to February 13, 2026 are shown [9] - **Inter - period**: Inter - period data such as 5 - month minus 1 - month, 9 - month minus 1 - month, and 9 - month minus 5 - month for rubber, methanol and other chemicals are provided [10] - **Inter - variety**: Inter - variety data such as LLDPE - PVC, LLDPE - PP from February 9 to February 13, 2026 are presented [10] 4. Black Metals 4.1 Base Price - Base price data for rebar, iron ore, coke, and coking coal from February 9 to February 13, 2026 are given [21] 4.2 Inter - period - Inter - period data such as 5 - month minus 1 - month, 9(10) - month minus 1 - month, and 9(10) - month minus 5 - month for rebar, iron ore and other black metals are provided [20] 4.3 Inter - variety - Inter - variety data such as rebar/iron ore, rebar/coke from February 9 to February 13, 2026 are presented [20] 5. Non - Ferrous Metals 5.1 Domestic Market - Domestic base price data for copper, aluminum, zinc, lead, nickel, and tin from February 9 to February 13, 2026 are shown [29] 5.2 London Market - Data on LME non - ferrous metals, including LME premium/discount, Shanghai - London ratio, CIF, domestic spot price, and import profit/loss on February 13, 2026 are provided [34] 6. Agricultural Products 6.1 Base Price - Base price data for soybeans No.1, soybeans No.2, soybean meal, soybean oil, and corn from February 9 to February 13, 2026 are given [41] 6.2 Inter - period - Inter - period data for soybeans No.1, soybeans No.2 and other agricultural products are provided [41] 6.3 Inter - variety - Inter - variety data such as soybeans No.1/corn, soybeans No.2/corn from February 9 to February 13, 2026 are presented [40][41] 7. Stock Index Futures 7.1 Base Price - Base price data for CSI 300, SSE 50, CSI 500, and CSI 1000 from February 9 to February 13, 2026 are given [54] 7.2 Inter - period - Inter - period data such as next - month minus current - month, next - quarter minus current - quarter for CSI 300, SSE 50, CSI 500, and CSI 1000 are provided [52]

有色套利早报 研究中心有色团队 2026/02/24 铜：跨市套利跟踪 2026/02/24 国内价格 LME价格 比价 现货 100275 12788 7.80 三月 100630 12895 7.82 均衡比价 盈利 现货进口 7.83 -565.83 现货出口 - 锌：跨市套利跟踪 2026/02/24 国内价格 LME价格 比价 现货 24340 3322 7.33 三月 24250 3353 4.97 均衡比价 盈利 现货进口 8.23 -3015.20 铝：跨市套利跟踪 2026/02/24 国内价格 LME价格 比价 现货 23160 3028 7.65 三月 23265 3063 7.62 均衡比价 盈利 现货进口 8.29 -1934.06 镍：跨市套利跟踪 2026/02/24 国内价格 LME价格 比价 现货 133900 17037 7.86 均衡比价 盈利 现货进口 7.99 -1190.59 跨期套利跟踪 2026/02/24 铜 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 510 760 990 980 理论价差 601 1101 1609 2117 锌 次月- ...

国内价格 LME价格 比价 现货 16600 1941 8.54 三月 16700 1988 12.33 均衡比价 盈利 现货进口 8.49 101.54 跨期套利跟踪 2026/02/13 铜 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 590 940 1170 1230 理论价差 611 1119 1637 2155 锌 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 115 135 185 190 理论价差 226 357 489 621 铝 次月-现货月 三月-现货月四月-现货月 五月-现货月 价差 25 105 160 220 理论价差 229 359 489 619 铅 次月-现货月 三月-现货 月 四月-现货月 五月-现货月 价差 45 50 90 135 理论价差 208 313 417 521 镍 次月-现货月 三月-现货月 四月-现货 月 五月-现货月 价差 1020 1240 1570 1590 锡 5-1 价差 -650 理论价差 8044 期现套利跟踪 2026/02/13 铜 当月合约-现货 次月合约-现货 价差 -290 300 理论价差 87 7 ...