Daily Report 090317 2017-03-09
Yesterday PP futures opened low and dropped. Opened at 8550, and closed at 8316. Trading volume increased 147000 lots to 451000 lots. Holding volume increased 30600 to 511000 tons. Actuals side, yesterday domestic PP market narrowed rolled back. Intraday main quoted prices for wires of north China, east China and south China markets are RMB8400-8550/ton, RMB 8300-8600/ton and RMB 8500-8650/ton, respectively. Now average line system changed tendency to downward. MACD green column lengthened; expect continue weak tendency.
Wednesday copper market was still weak. Copper price reached the lowest point. LME inventory yesterday continued increase 26550 tons to 289000 tons. LME actuals discount still maintains at discount $18.25. Yesterday LME inventory increased the third continuous days. Overall, considering copper market supply and need has turned good, and traditional consumption season comes, recommend buy at low positon.
Wednesday Nickel market was weak. LME nickel dropped again with 4.59%. LME inventory yesterday increased 5022 tons to 386000 tons. LME actuals discount enlarged $1.75 to discount $85. Technically, considering the Fed interest hike might stress on Nickel price, recommend observation and wait for market to be clear.
                                                                                              Dong LV (Investment Certificate NO. TZ008452)