有色套利早报 研究中心有色团队 2026/03/02 铜：跨市套利跟踪 2026/03/02 国内价格 LME价格 比价 现货 101970 13409 7.60 三月 104290 13458 7.64 均衡比价 盈利 现货进口 7.79 -1481.33 现货出口 1133.20 锌：跨市套利跟踪 2026/03/02 国内价格 LME价格 比价 现货 24460 3363 7.27 三月 24770 3382 4.96 均衡比价 盈利 现货进口 8.18 -3047.43 铝：跨市套利跟踪 2026/03/02 国内价格 LME价格 比价 现货 23410 3153 - 三月 23925 3165 7.48 均衡比价 盈利 现货进口 8.23 - 镍：跨市套利跟踪 2026/03/02 国内价格 LME价格 比价 现货 137600 17812 7.73 均衡比价 盈利 现货进口 7.93 -1114.73 铅：跨市套利跟踪 2026/03/02 国内价格 LME价格 比价 现货 16575 1942 8.54 三月 16855 1987 12.36 均衡比价 盈利 现货进口 8.44 186.96 跨 ...

有色套利早报 研究中心有色团队 2026/02/26 铜：跨市套利跟踪 2026/02/26 国内价格 LME价格 比价 现货 102060 13212 7.63 三月 103150 13289 7.70 均衡比价 盈利 现货进口 7.80 -801.62 现货出口 225.88 锌：跨市套利跟踪 2026/02/26 国内价格 LME价格 比价 现货 24530 3373 7.27 三月 24770 3403 4.92 均衡比价 盈利 现货进口 8.18 -3053.40 铝：跨市套利跟踪 2026/02/26 国内价格 LME价格 比价 现货 23380 3109 7.52 三月 23920 3129 7.56 均衡比价 盈利 现货进口 8.22 -2186.60 镍：跨市套利跟踪 2026/02/26 国内价格 LME价格 比价 现货 139500 17891 7.80 均衡比价 盈利 现货进口 7.93 -1310.69 免责声明: 以上内容所依据的信息均来源于交易所、媒体及资讯公司等发布的公开资料或通过合法授权渠道向发布人取得的资讯，我们力求分析及建议内 容的客观、公正，研究方法专业审慎，分析结论合 ...

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 ...

铅：跨市套利跟踪 2026/02/12 国内价格 LME价格 比价 现货 16625 1930 8.59 三月 16755 1978 12.43 均衡比价 盈利 现货进口 8.50 165.28 跨期套利跟踪 2026/02/12 铜 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 1030 1310 1480 1500 理论价差 608 1114 1628 2143 锌 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 185 240 280 315 理论价差 225 356 487 618 铝 次月-现货月 三月-现货月四月-现货月 五月-现货月 价差 225 295 360 405 理论价差 228 357 487 616 铅 次月-现货月 三月-现货 月 四月-现货月 五月-现货月 价差 100 115 165 215 理论价差 208 312 417 521 镍 次月-现货月 三月-现货月 四月-现货 月 五月-现货月 价差 6270 6570 6910 6960 锡 5-1 价差 1500 理论价差 8068 期现套利跟踪 2026/02/12 铜 当月合约-现货 次月合 ...

有色套利早报 研究中心有色团队 2026/02/06 铜：跨市套利跟踪 2026/02/06 国内价格 LME价格 比价 现货 101180 12846 8.13 三月 101270 12924 7.84 均衡比价 盈利 现货进口 7.87 93.86 现货出口 -554.38 锌：跨市套利跟踪 2026/02/06 国内价格 LME价格 比价 现货 24560 3258 7.54 三月 24450 3279 5.05 均衡比价 盈利 现货进口 8.28 -2419.70 铝：跨市套利跟踪 2026/02/06 国内价格 LME价格 比价 现货 23340 2998 7.78 三月 23455 3024 7.76 均衡比价 盈利 现货进口 8.36 -1721.69 镍：跨市套利跟踪 2026/02/06 国内价格 LME价格 比价 现货 133100 16973 7.84 均衡比价 盈利 现货进口 8.03 -856.16 铅：跨市套利跟踪 2026/02/06 国内价格 LME价格 比价 现货 16400 1911 8.58 三月 16610 1960 12.53 均衡比价 盈利 现货进口 8.54 77 ...

铅：跨市套利跟踪 2026/01/29 国内价格 LME价格 比价 现货 16750 1977 8.49 三月 17065 2026 12.48 均衡比价 盈利 现货进口 8.53 -78.86 跨期套利跟踪 2026/01/29 铜 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 780 1040 1190 1290 理论价差 613 1125 1645 2166 锌 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 710 715 800 780 理论价差 227 361 494 628 铝 次月-现货月 三月-现货月四月-现货月 五月-现货月 价差 1410 1440 1460 1450 理论价差 232 365 498 632 铅 次月-现货月 三月-现货 月 四月-现货月 五月-现货月 价差 60 130 180 215 理论价差 210 315 421 527 镍 次月-现货月 三月-现货月 四月-现货 月 五月-现货月 价差 -1380 -1280 -940 -860 锡 5-1 价差 650 理论价差 9075 期现套利跟踪 2026/01/29 铜 当月合约-现货 ...

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Report Industry Investment Rating - Not provided in the report Core View - The report presents the cross - market, cross - period, and cross - variety arbitrage tracking data of non - ferrous metals including copper, zinc, aluminum, nickel, and lead on January 23, 2026, including domestic and LME prices, price ratios, equilibrium price ratios, and profit data [1][3][5] Summary by Directory Cross - Market Arbitrage Tracking - **Copper**: On January 23, 2026, the domestic spot price was 100110, the LME spot price was 12762, with a ratio of 7.89; the domestic three - month price was 100900, the LME three - month price was 12845, with a ratio of 7.83. The equilibrium ratio for spot import was 7.90, with a profit of - 498.98, and the profit for spot export was - 159.97 [1] - **Zinc**: The domestic spot price was 24300, the LME spot price was 3163, with a ratio of 7.68; the domestic three - month price was 24445, the LME three - month price was 3200, with a ratio of 5.34. The equilibrium ratio for spot import was 8.33, with a profit of - 2042.42 [1] - **Aluminum**: The domestic spot price was 23740, the LME spot price was 3110, with a ratio of 7.63; the domestic three - month price was 24100, the LME three - month price was 3129, with a ratio of 7.65. The equilibrium ratio for spot import was 8.32, with a profit of - 2153.83 [1] - **Nickel**: The domestic spot price was 140200, the LME spot price was 17829, with a ratio of 7.86. The equilibrium ratio for spot import was 8.00, with a profit of 427.18 [1] - **Lead**: The domestic spot price was 16900, the LME spot price was 1987, with a ratio of 8.51; the domestic three - month price was 17185, the LME three - month price was 2032, with a ratio of 11.95. The equilibrium ratio for spot import was 8.55, with a profit of - 86.18 [3] Cross - Period Arbitrage Tracking - **Copper**: The spreads of the next - month, three - month, four - month, and five - month contracts relative to the spot month were - 350, - 150, 70, and 50 respectively, while the theoretical spreads were 607, 1113, 1627, and 2141 [3] - **Zinc**: The spreads were 95, 140, 175, and 180 respectively, and the theoretical spreads were 225, 355, 486, and 616 [3] - **Aluminum**: The spreads were - 30, 15, 55, and 75 respectively, and the theoretical spreads were 231, 364, 496, and 629 [3] - **Lead**: The spreads were 80, 125, 165, and 195 respectively, and the theoretical spreads were 210, 317, 423, and 529 [3] - **Nickel**: The spreads were - 320, - 140, 100, and 140 respectively [3] - **Tin**: The 5 - 1 spread was 3280, and the theoretical spread was 8334 [3] Spot - Futures Arbitrage Tracking - **Copper**: The spreads of the current - month and next - month contracts relative to the spot were 1020 and 670 respectively, and the theoretical spreads were 632 and 1133 [3] - **Zinc**: The spreads were 5 and 100 respectively, and the theoretical spreads were 188 and 329 [3] - **Lead**: The spreads were 160 and 240 respectively, and the theoretical spreads were 182 and 295 [3] Cross - Variety Arbitrage Tracking - The cross - variety ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc in Shanghai (three - continuous contracts) were 4.13, 4.19, 5.87, 0.99, 1.40, and 0.70 respectively; in London (three - continuous contracts) were 3.97, 4.07, 6.31, 0.98, 1.55, and 0.63 respectively [5]

Group 1: Report Industry Investment Rating - No relevant content Group 2: Report's 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 January 21, 2026, including domestic and LME prices, price ratios, equilibrium price ratios, and profit margins [1][3] Group 3: Summary by Related Catalogs Cross - market Arbitrage Tracking - **Copper**: On January 21, 2026, the domestic spot price was 100,660, the LME price was 13,030, with a ratio of 7.72; the three - month domestic price was 101,430, the LME price was 12,929, with a ratio of 7.80. The equilibrium ratio for spot import was 7.89, with a profit of - 1773.40, and the profit for spot export was 1409.82 [1] - **Zinc**: The domestic spot price was 24,340, the LME price was 3181, with a ratio of 7.65; the three - month domestic price was 24,455, the LME price was 3225, with a ratio of 5.33. The equilibrium ratio for spot import was 8.32, with a profit of - 2114.93 [1] - **Aluminum**: The domestic spot price was 23,680, the LME price was 3132, with a ratio of 7.56; the three - month domestic price was 23,995, the LME price was 3145, with a ratio of 7.60. The equilibrium ratio for spot import was 8.32, with a profit of - 2388.30 [1] - **Nickel**: The domestic spot price was 139,850, the LME price was 17,710, with a ratio of 7.90. The equilibrium ratio for spot import was 7.99, with a profit of 1929.60 [1] - **Lead**: The domestic spot price was 17,000, the LME price was 2012, with a ratio of 8.45; the three - month domestic price was 17,285, the LME price was 2058, with a ratio of 11.83. The equilibrium ratio for spot import was 8.51, with a profit of - 125.66 [3] Cross - period Arbitrage Tracking - **Copper**: The spreads of the next - month, three - month, four - month, and five - month contracts relative to the spot month were 240, 440, 550, and 510 respectively, while the theoretical spreads were 607, 1112, 1626, and 2140 respectively [3] - **Zinc**: The spreads of the next - month, three - month, four - month, and five - month contracts relative to the spot month were 0, 45, 70, and 40 respectively, and the theoretical spreads were 225, 356, 487, and 618 respectively [3] - **Aluminum**: The spreads of the next - month, three - month, four - month, and five - month contracts relative to the spot month were - 75, - 30, 15, and 25 respectively, and the theoretical spreads were 231, 363, 495, and 628 respectively [3] - **Lead**: The spreads of the next - month, three - month, four - month, and five - month contracts relative to the spot month were 100, 160, 190, and 195 respectively, and the theoretical spreads were 211, 317, 424, and 531 respectively [3] - **Nickel**: The spreads of the next - month, three - month, four - month, and five - month contracts relative to the spot month were - 760, - 490, - 240, and - 260 respectively [3] - **Tin**: The spread of the 5 - 1 contract was 1890, and the theoretical spread was 8149 [3] Spot - Futures Arbitrage Tracking - **Copper**: The spread between the current - month contract and the spot was 315, the theoretical spread was 582; the spread between the next - month contract and the spot was 555, the theoretical spread was 1172 [3] - **Zinc**: The spread between the current - month contract and the spot was 70, the theoretical spread was 193; the spread between the next - month contract and the spot was 70, the theoretical spread was 335 [3] - **Lead**: The spread between the current - month contract and the spot was 125, the theoretical spread was 185; the spread between the next - month contract and the spot was 225, the theoretical spread was 298 [3] Cross - variety Arbitrage Tracking - On January 21, 2026, the cross - variety price ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc in Shanghai (three - continuous contracts) were 4.15, 4.23, 5.87, 0.98, 1.39, and 0.71 respectively; in London (three - continuous contracts), they were 4.02, 4.10, 6.29, 0.98, 1.53, and 0.64 respectively [3]