2025 年 4 月 29 日 锡：小幅修复 | 王蓉 | 投资咨询从业资格号：Z0002529 | wangrong013179@gtjas.com | | --- | --- | --- | | 刘雨萱 | 投资咨询从业资格号：Z0020476 | liuyuxuan023982@gtjas.com | 请务必阅读正文之后的免责条款部分 1 期货研究 【基本面跟踪】 锡基本面数据 | 锡基本面数据 | | | | | | | --- | --- | --- | --- | --- | --- | | | | 昨日收盘价 | 日涨幅% | 昨日夜盘收盘 价 | 夜盘涨幅 | | | 沪锡主力合约 | 262,840 | 1.26% | 261,510 | -0.23% | | | 伦 锡3M电子盘 | 32,150 | 0.55% | - | - | | 期 货 | | 昨日成交 | 较前日变动 | 昨日持仓 | 较前日变动 | | | 沪锡主力合约 | 72,011 | -24,008 | 17,601 | -5,566 | | | 伦 锡3M电子盘 | 206 | 0 | 176 | 0 | | | | ...

1. Report Industry Investment Rating - No investment rating provided in the report 2. Core Viewpoints - The report presents cross - market, cross - period, and cross - variety arbitrage tracking data for multiple non - ferrous metals including copper, zinc, aluminum, nickel, lead, tin on April 21, 2025, providing investors with information for potential arbitrage opportunities [1][3][4] 3. Summary by Relevant Catalogs Cross - Market Arbitrage Tracking - **Copper**: Domestic spot price is 76,290, March price is 75,980, LME March price is 9,254, and the ratio is 8.22 [1] - **Zinc**: Domestic spot price is 22,420, March price is 21,920, LME March price is 2,595, and the ratio is 6.51 [1] - **Aluminum**: Domestic spot price is 19,820, March price is 19,625, LME March price is 2,385, and the ratio is 8.25 [1] - **Nickel**: Domestic spot price is 127,200, and the profit of spot import is - 3,917.34 [1] - **Lead**: Domestic spot price is 16,875, March price is 16,835, LME March price is 1,928, and the ratio is 11.43 [2] Cross - Period Arbitrage Tracking - **Copper**: The spreads between different months and the spot month are 270 (next month), 110 (March), - 20 (April), - 70 (May), while the theoretical spreads are 481, 861, 1249, 1637 respectively [3] - **Zinc**: The spreads are - 210, - 340, - 415, - 455, and the theoretical spreads are 214, 335, 455, 575 respectively [3] - **Aluminum**: The spreads are - 35, - 105, - 140, - 150, and the theoretical spreads are 210, 320, 431, 542 respectively [3] - **Lead**: The spreads are 105, 85, 70, 85, and the theoretical spreads are 209, 314, 418, 523 respectively [3] - **Nickel**: The spreads are - 290, - 190, 40, 200 [3] - **Tin**: The 5 - 1 spread is - 1020, and the theoretical spread is 5335 [3] Spot - Futures Arbitrage Tracking - **Copper**: The spreads between the current - month and next - month contracts and the spot are - 425 and - 155 respectively, while the theoretical spreads are 385 and 847 respectively [3] - **Zinc**: The spreads are - 160 and - 370, and the theoretical spreads are 129 and 259 respectively [3] - **Lead**: The spreads are - 125 and - 20, and the theoretical spreads are 155 and 268 respectively [4] Cross - Variety Arbitrage Tracking - The ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, lead/zinc for Shanghai (three - continuous contracts) are 3.47, 3.87, 4.51, 0.90, 1.17, 0.77 respectively [4]