forward market

Sometimes, the price of the same commodity is different in different exchanges, and low-priced goods can be sold to high-priced exchanges.

Futures arbitrage

situation

One company a year.

boat

Imported?

copper concentrate

The copper content is about 20,000 tons, delivered in 6-7 batches, and each batch contains about 3,500 tons of copper. The scheme is as follows: If the contract has been set to CIF mode and the price is based on the average price of LME in the pricing month, the company can wait for an opportunity to buy a copper futures contract of LME and pass it.

buying price

At the same time, sell copper futures contracts in SHFE and lock in processing fees (some of which

price difference

Income). At the beginning of February 2000, the company had a ship.

Import contract

Finalized, the pricing month is June 2000, the processing fee is about 350 US dollars (TC/RC = 72/7.2), and the copper content is about 3,300 tons (the grade is about 38%).

Then on February 8th, I bought the June contract at LME for $65,438+0,830. At that time, SCF C3-MCU was 3× 65,438+00.032 = 6,965,438+0 (due to Chinese New Year).

Closed (for holidays or other reasons)

, press

last trading day

Closing price calculation), appear

Top deviation

So the February 14 and June contracts were concluded at SHFE 19500; By June 15, domestic delivery.

Delivery settlement price

17760, when scfc3-mcu3x10.032 = 333. By July 1, the average spot price of LME6 in June was determined as 1755 USD (regarded as

settlement price

)。

Spot arbitrage

Shang Bo spot and futures cross-market arbitrage varieties (integrated stickers)

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If there is another way to make money steadily in the speculative market, I believe it is arbitrage! ! !