Report Industry Investment Rating - Not provided Core View - The report presents the cross - market, cross - period, and cross - variety arbitrage tracking data of various non - ferrous metals (copper, zinc, aluminum, nickel, lead, tin) on July 28, 2025, including domestic and LME prices, price ratios, spreads, and theoretical spreads [1][3][4] Summary by Relevant Catalogs Cross - Market Arbitrage Tracking - **Copper**: Domestic spot price is 79400, LME spot price is 9786, spot price ratio is 8.17, and spot import profit is - 722.84 [1] - **Zinc**: Domestic spot price is 22750, LME spot price is 2838, spot price ratio is 8.02, and spot import profit is - 1763.87 [1] - **Aluminum**: Domestic spot price is 20780, LME spot price is 2649, spot price ratio is 7.84, and spot import profit is - 1734.41 [1] - **Nickel**: Domestic spot price is 122700, LME spot price is 15340, spot price ratio is 8.00, and spot import profit is - 1990.99 [1] - **Lead**: Domestic spot price is 16725, LME spot price is 2007, spot price ratio is 8.35, and spot import profit is - 974.42 [3] Cross - Period Arbitrage Tracking - **Copper**: The spreads of the second - month, third - month, fourth - month, and fifth - month contracts relative to the spot - month contract are - 580, - 540, - 590, and - 660 respectively, while the theoretical spreads are 501, 900, 1308, and 1717 [4] - **Zinc**: The spreads of the second - month, third - month, fourth - month, and fifth - month contracts relative to the spot - month contract are - 80, - 90, - 130, and - 170 respectively, while the theoretical spreads are 218, 342, 465, and 589 [4] - **Aluminum**: The spreads of the second - month, third - month, fourth - month, and fifth - month contracts relative to the spot - month contract are - 25, - 60, - 125, and - 180 respectively, while the theoretical spreads are 215, 331, 447, and 563 [4] - **Lead**: The spreads of the second - month, third - month, fourth - month, and fifth - month contracts relative to the spot - month contract are 70, 110, 100, and 170 respectively, while the theoretical spreads are 209, 315, 420, and 526 [4] - **Nickel**: The spreads of the second - month, third - month, fourth - month, and fifth - month contracts relative to the spot - month contract are 200, 330, 500, and 750 respectively [4] - **Tin**: The spread of the 5 - 1 contract is - 350, and the theoretical spread is 5622 [4] Cross - Variety Arbitrage Tracking - The ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc for the Shanghai (three - continuous) contracts are 3.47, 3.83, 4.67, 0.91, 1.22, and 0.74 respectively; for the London (three - continuous) contracts, they are 3.46, 3.71, 4.85, 0.93, 1.31, and 0.71 respectively [5]

有色套利早报 研究中心有色团队 2025/07/01 铜：跨市套利跟踪 2025/07/01 国内价格 LME价格 比价 现货 79990 10059 7.97 三月 79680 9878 8.07 均衡比价 盈利 现货进口 8.13 -1666.99 现货出口 1406.63 锌：跨市套利跟踪 2025/07/01 国内价格 LME价格 比价 现货 22500 2770 8.12 三月 22445 2780 6.17 均衡比价 盈利 现货进口 8.64 -1440.41 铝：跨市套利跟踪 2025/07/01 国内价格 LME价格 比价 现货 20780 2598 8.00 三月 20495 2599 7.90 均衡比价 盈利 现货进口 8.54 -1404.94 镍：跨市套利跟踪 2025/07/01 国内价格 LME价格 比价 现货 119900 15025 7.98 均衡比价 盈利 现货进口 8.23 -2486.93 铅：跨市套利跟踪 2025/07/01 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 ...

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 2025/05/09 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 ...

Report Industry Investment Rating - No relevant information provided 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 May 8, 2025 [1][4][5] Summary by Related Catalogs Cross - Market Arbitrage Tracking - **Copper**: On May 8, 2025, the domestic spot price was 78,575, LME price was 9,498, and the ratio was 8.23; the three - month domestic price was 77,410, LME price was 9,477, and the ratio was 8.22. The equilibrium ratio for spot import was 8.27, with a profit of 52.52, and the profit for spot export was - 1.20 [1] - **Zinc**: The domestic spot price was 22,840, LME price was 2,582, and the ratio was 8.85; the three - month domestic price was 21,955, LME price was 2,619, and the ratio was 6.36. The equilibrium ratio for spot import was 8.75, with a profit of 236.34 [1] - **Aluminum**: The domestic spot price was 19,620, LME price was 2,369, and the ratio was 8.27; the three - month domestic price was 19,400, LME price was 2,398, and the ratio was 8.16. The equilibrium ratio for spot import was 8.76, with a profit of - 1153.53 [1] - **Nickel**: The domestic spot price was 125,650, LME price was 15,479, and the ratio was 8.12. The equilibrium ratio for spot import was 8.31, with a profit of - 3755.62 [1] - **Lead**: The domestic spot price was 16,600, LME price was 1,907, and the ratio was 8.68; the three - month domestic price was 16,690, LME price was 1,924, and the ratio was 11.57. The equilibrium ratio for spot import was 8.97, with a profit of - 562.77 [3] Cross - Period Arbitrage Tracking - **Copper**: The spreads for the next month, three - month, four - month, and five - month relative to the spot month were - 120, - 500, - 860, and - 1170 respectively, while the theoretical spreads were 492, 881, 1280, and 1678 [4] - **Zinc**: The spreads were - 555, - 810, - 965, and - 1040, and the theoretical spreads were 217, 340, 462, and 585 [4] - **Aluminum**: The spreads were - 460, - 525, - 565, and - 585, and the theoretical spreads were 211, 322, 434, and 546 [4] - **Lead**: The spreads were 80, 70, 65, and 50, and the theoretical spreads were 208, 312, 416, and 520 [4] - **Nickel**: The spreads were 0, 200, 390, and 530 [4] - **Tin**: The 5 - 1 spread was - 320, and the theoretical spread was 5421 [4] Spot - Futures Arbitrage Tracking - **Copper**: The spreads for the current - month and next - month contracts relative to the spot were - 665 and - 785, and the theoretical spreads were 86 and 503 [4] - **Zinc**: The spreads were - 75 and - 630, and the theoretical spreads were 9 and 142 (also mentioned as 146 and 197) [4][5] - **Lead**: The spreads were 20 and 100, and the theoretical spreads were 105 and 216 [5] Cross - Variety Arbitrage Tracking - On May 8, 2025, the ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc for Shanghai (three - continuous) were 3.53, 3.99, 4.64, 0.88, 1.16, and 0.76 respectively; for LME (three - continuous) were 3.60, 3.95, 4.81, 0.91, 1.22, and 0.75 [5]