Report Overview - The report provides cross - market, cross - period, spot - futures, and cross - variety arbitrage tracking data for non - ferrous metals on June 3, 2025 [1] Cross - Market Arbitrage Tracking Copper - Spot price: domestic 78,240, LME 9,604, ratio 8.13; March price: domestic 77,420, LME 9,554, ratio 8.14; equilibrium ratio for spot import 8.22, profit - 778.22; profit for spot export 507.68 [1] Zinc - Spot price: domestic 22,780, LME 2,639, ratio 8.63; March price: domestic 21,980, LME 2,662, ratio 6.22; equilibrium ratio for spot import 8.74, profit - 281.50 [1] Aluminum - Spot price: domestic 20,290, LME 2,446, ratio 8.29; March price: domestic 19,975, LME 2,452, ratio 8.18; equilibrium ratio for spot import 8.67, profit - 945.16 [1] Nickel - Spot price: domestic 122,450, LME 15,179, ratio 8.07; equilibrium ratio for spot import 8.28, profit - 4,102.92 [1] Lead - Spot price: domestic 16,350, LME 1,929, ratio 8.50; March price: domestic 16,610, LME 1,953, ratio 11.39; equilibrium ratio for spot import 8.93, profit - 824.33 [1][3] Cross - Period Arbitrage Tracking Copper - Spread: next month - spot month - 330, March - spot month - 510, April - spot month - 710, May - spot month - 1030; theoretical spread 492, 881, 1280, 1679 respectively [4] Zinc - Spread: next month - spot month - 425, March - spot month - 670, April - spot month - 860, May - spot month - 945; theoretical spread 216, 339, 461, 583 respectively [4] Aluminum - Spread: next month - spot month - 105, March - spot month - 200, April - spot month - 250, May - spot month - 300; theoretical spread 212, 325, 438, 551 respectively [4] Lead - Spread: next month - spot month 85, March - spot month 75, April - spot month 50, May - spot month 50; theoretical spread 208, 311, 415, 519 respectively [4] Nickel - Spread: next month - spot month 1010, March - spot month 1260, April - spot month 1420, May - spot month 1550 [4] Tin - 5 - 1 spread not provided, theoretical spread 5,219 [4] Spot - Futures Arbitrage Tracking Copper - Spread: current month contract - spot - 285, next month contract - spot - 615; theoretical spread 238, 623 respectively [4] Zinc - Spread: current month contract - spot - 130, next month contract - spot - 555; theoretical spread 51, 183 respectively [4][5] Lead - Spread: current month contract - spot 185, next month contract - spot 270; theoretical spread 154, 264 respectively [5] Cross - Variety Arbitrage Tracking - Ratios for Shanghai (three - continuous): copper/zinc 3.52, copper/aluminum 3.88, copper/lead 4.66, aluminum/zinc 0.91, aluminum/lead 1.20, lead/zinc 0.76; ratios for LME (three - continuous): copper/zinc 3.63, copper/aluminum 3.89, copper/lead 4.85, aluminum/zinc 0.93, aluminum/lead 1.25, lead/zinc 0.75 [5]

有色套利早报 研究中心有色团队 2025/05/28 铜：跨市套利跟踪 2025/05/28 国内价格 LME价格 比价 现货 78440 9617 8.15 三月 77660 9577 8.18 均衡比价 盈利 现货进口 8.23 -822.25 现货出口 67.80 锌：跨市套利跟踪 2025/05/28 国内价格 LME价格 比价 现货 22720 2671 8.51 三月 22155 2692 6.24 均衡比价 盈利 现货进口 8.73 -598.42 铝：跨市套利跟踪 2025/05/28 国内价格 LME价格 比价 现货 20200 2445 8.26 三月 19975 2446 8.18 均衡比价 盈利 现货进口 8.69 -1042.43 镍：跨市套利跟踪 2025/05/28 国内价格 LME价格 比价 现货 123400 15305 8.06 均衡比价 盈利 现货进口 8.28 -4225.15 跨期套利跟踪 2025/05/28 铜 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 -370 -610 -880 -1100 理论价差 493 885 1285 1685 锌 ...

有色套利早报 研究中心有色团队 2025/05/27 铜：跨市套利跟踪 2025/05/27 国内价格 LME价格 比价 现货 78525 - - 三月 77600 9614 8.15 均衡比价 盈利 现货进口 - - 现货出口 - 锌：跨市套利跟踪 2025/05/27 国内价格 LME价格 比价 现货 22580 - - 三月 22055 2713 6.20 均衡比价 盈利 现货进口 - - 铝：跨市套利跟踪 2025/05/27 国内价格 LME价格 比价 现货 20350 - - 三月 20090 2466 8.18 均衡比价 盈利 现货进口 - - 镍：跨市套利跟踪 2025/05/27 国内价格 LME价格 比价 现货 124100 - - 均衡比价 盈利 现货进口 - -3470.81 铅：跨市套利跟踪 2025/05/27 国内价格 LME价格 比价 现货 16650 - - 三月 16795 1994 11.12 均衡比价 盈利 现货进口 - - 跨期套利跟踪 2025/05/27 铜 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 100 -190 -420 -700 理论价 ...

有色套利早报 研究中心有色团队 2025/05/21 铜：跨市套利跟踪 2025/05/21 国内价格 LME价格 比价 现货 78340 9475 8.25 三月 76900 9472 8.23 均衡比价 盈利 现货进口 8.25 -23.85 现货出口 -364.39 锌：跨市套利跟踪 2025/05/21 国内价格 LME价格 比价 现货 22610 2642 8.56 三月 22080 2672 6.29 均衡比价 盈利 现货进口 8.70 -369.59 铝：跨市套利跟踪 2025/05/21 国内价格 LME价格 比价 现货 20210 2437 8.29 三月 20030 2439 8.23 均衡比价 盈利 现货进口 8.71 -1031.75 镍：跨市套利跟踪 2025/05/21 国内价格 LME价格 比价 现货 124500 15251 8.16 均衡比价 盈利 现货进口 8.30 -3221.31 跨期套利跟踪 2025/05/21 铜 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 -630 -920 -1110 -1310 理论价差 491 880 1278 1676 ...

有色套利早报 研究中心有色团队 2025/05/20 铜：跨市套利跟踪 2025/05/20 国内价格 LME价格 比价 现货 78070 9497 8.27 三月 77020 9481 8.19 均衡比价 盈利 现货进口 8.25 -103.15 现货出口 5.75 锌：跨市套利跟踪 2025/05/20 国内价格 LME价格 比价 现货 22650 2656 8.53 三月 22120 2688 6.28 均衡比价 盈利 现货进口 8.69 -435.22 铝：跨市套利跟踪 2025/05/20 国内价格 LME价格 比价 现货 20230 2471 8.19 三月 20065 2470 8.14 均衡比价 盈利 现货进口 8.70 -1280.43 镍：跨市套利跟踪 2025/05/20 国内价格 LME价格 比价 现货 125000 15388 8.12 均衡比价 盈利 现货进口 8.30 -3655.82 理论价差 451 773 理论价差 121 252 锌 当月合约-现货 次月合约-现货 价差 -150 -405 理论价差 168 280 铅 当月合约-现货 次月合约-现货 价差 120 125 ...

Report Industry Investment Rating - No relevant information provided Core Viewpoints - The report provides cross - market, cross - period, and cross - product arbitrage tracking data for various non - ferrous metals including copper, zinc, aluminum, lead, nickel, and tin on May 15, 2025 [1][3][7] According to Related Catalogs Cross - Market Arbitrage Tracking - **Copper**: On May 15, 2025, the domestic spot price was 78,875, the LME spot price was 9,639, with a spot ratio of 8.13; the domestic three - month price was 78,460, the LME three - month price was 9,625, with a three - month ratio of 8.16. The equilibrium ratio for spot import was 8.25, with a loss of 227.87, and a profit of 256.73 for spot export [7] - **Zinc**: The domestic spot price was 22,880, the LME spot price was 2,705, with a spot ratio of 8.46; the domestic three - month price was 22,580, the LME three - month price was 2,728, with a three - month ratio of 6.20. The equilibrium ratio for spot import was 8.68, with a loss of 595.29 [7] - **Aluminum**: The domestic spot price was 20,210, the LME spot price was 2,521, with a spot ratio of 8.02; the domestic three - month price was 20,240, the LME three - month price was 2,520, with a three - month ratio of 8.01. The equilibrium ratio for spot import was 8.70, with a loss of 1,729.07 [7] - **Nickel**: The domestic spot price was 126,350, the LME spot price was 15,594, with a spot ratio of 8.10. The equilibrium ratio for spot import was 8.29, with a loss of 3,771.87 [7] - **Lead**: The domestic spot price was 16,800, the LME spot price was 1,975, with a spot ratio of 8.48; the domestic three - month price was 16,950, the LME three - month price was 1,982, with a three - month ratio of 11.40. The equilibrium ratio for spot import was 8.93, with a loss of 887.82 [1][2] Cross - Period Arbitrage Tracking - **Copper**: The price differences between the next - month, three - month, four - month, and five - month contracts and the spot month were 510, 30, - 330, and - 570 respectively, while the theoretical price differences were 494, 886, 1287, and 1689 [3] - **Zinc**: The price differences were 210, 80, - 50, and - 145 respectively, and the theoretical price differences were 216, 337, 459, and 580 [3] - **Aluminum**: The price differences were 240, 205, 160, and 140 respectively, and the theoretical price differences were 211, 323, 436, and 548 [3] - **Lead**: The price differences were 15, 30, 10, and 15 respectively, and the theoretical price differences were 210, 315, 421, and 526 [3] - **Nickel**: The price differences between the next - month, three - month, four - month, and five - month contracts and the spot month were 2230, 2410, 2580, and 2770 respectively [3] - **Tin**: The price difference between the 5 - month and 1 - month contracts was - 650, and the theoretical price difference was 5501 [3] Cross - Product Arbitrage Tracking - **Ratio of Shanghai Contracts**: The ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc were 3.47, 3.88, 4.63, 0.90, 1.19, and 0.75 respectively [4] - **Ratio of LME Contracts**: The ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc were 3.47, 3.80, 4.81, 0.91, 1.27, and 0.72 respectively [4] Spot - Futures Arbitrage Tracking - **Copper**: The price differences between the current - month and next - month contracts and the spot were - 460 and 50 respectively, and the theoretical price differences were 16 and 527 [3] - **Zinc**: The price differences were - 380 and - 170 respectively, and the theoretical price differences were 45 and 178 [3] - **Lead**: The price differences were 120 and 135 respectively, and the theoretical price differences were 94 and 206 [4]

有色套利早报 研究中心有色团队 2025/05/14 铜：跨市套利跟踪 2025/05/14 国内价格 LME价格 比价 现货 78160 9584 8.20 三月 77600 9565 8.13 均衡比价 盈利 现货进口 8.24 -370.77 现货出口 512.42 锌：跨市套利跟踪 2025/05/14 国内价格 LME价格 比价 现货 22720 2665 8.52 三月 22185 2693 6.29 均衡比价 盈利 现货进口 8.68 -413.51 铝：跨市套利跟踪 2025/05/14 国内价格 LME价格 比价 现货 20015 2482 8.06 三月 19960 2480 8.05 均衡比价 盈利 现货进口 8.71 -1596.65 镍：跨市套利跟踪 2025/05/14 国内价格 LME价格 比价 现货 124800 15411 8.10 均衡比价 盈利 现货进口 8.29 -3291.29 或储存上的错误、或遭第三人侵入系统篡改或伪造变造资料等，我们均不承担任何责任。 铅：跨市套利跟踪 2025/05/14 国内价格 LME价格 比价 现货 16800 1991 8.41 三月 ...

期货研究院 股指期货日度策略报告 Stock Index Futures Strategy Daily Report 金融衍生品研究中心 | 作者： | 李彦森 | | --- | --- | | 从业资格证号： | F3050205 | | 投资咨询证号： | Z0013871 | | 联系方式： | 010-68518392 | 投资咨询业务资格：京证监许可【2012】75号 成文时间：2025年05月13日星期二 更多精彩内容请关注方正中期官方微信 摘要 【行情复盘】 周一股指上行步伐有所加快，沪指收涨0.82%。期指主力合约也全 面走升。成交持仓方面，四个品种成交持仓均上升，市场情绪有所 好转。 【重要资讯】 行业来看，31个一级行业大多数上涨，行业涨跌差异上升，结合行 业在指数中所占权重看，非银金融对300和50带动最强，电力设备 带动300，国防军工、电子带动500和1000，医药生物是四大指数 主要拖累。资金方面，主要指数资金全面流入。消息面上看，央行 今日公开市场操作净投放流动性430亿元，短端资金成本小幅下降 。消息显示，中美关税谈判取得突破性进展，双方联合声明确认将 4月2日后增量关税降至 ...

跨期套利跟踪 2025/05/12 铜 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 -440 -980 -1430 -1770 理论价差 491 881 1279 1678 锌 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 -375 -630 -775 -850 理论价差 216 338 459 581 铝 次月-现货月 三月-现货月四月-现货月 五月-现货月 价差 -65 -150 -205 -205 理论价差 209 320 430 540 铅 次月-现货月 三月-现货 月 四月-现货月 五月-现货月 价差 60 50 40 60 理论价差 209 313 418 523 镍 次月-现货月 三月-现货月 四月-现货 月 五月-现货月 价差 -90 10 250 510 锡 5-1 价差 490 理论价差 5366 期现套利跟踪 2025/05/12 铜 当月合约-现货 次月合约-现货 价差 -295 -735 理论价差 109 478 锌 当月合约-现货 次月合约-现货 价差 -225 -600 理论价差 5 137 免责声明: 以上内容所依据的信息均来源于交易所、媒体及 ...

有色套利早报 研究中心有色团队 2025/05/09 铜：跨市套利跟踪 2025/05/09 国内价格 LME价格 比价 现货 78450 9409 8.33 三月 76780 9364 8.30 均衡比价 盈利 现货进口 8.29 -252.05 现货出口 -332.50 锌：跨市套利跟踪 2025/05/09 国内价格 LME价格 比价 现货 22850 2569 8.90 三月 21920 2602 6.45 均衡比价 盈利 现货进口 8.78 308.41 铝：跨市套利跟踪 2025/05/09 国内价格 LME价格 比价 现货 19620 2376 8.26 三月 19410 2382 8.22 均衡比价 盈利 现货进口 8.78 -1237.36 镍：跨市套利跟踪 2025/05/09 国内价格 LME价格 比价 现货 125000 15323 8.16 均衡比价 盈利 现货进口 8.33 -4119.54 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、或因不可抗 ...