Daily Report 100317 2017-03-10
Yesterday PP futures opened low and increasd. Opened at 8200, and closed at 8276. Trading volume decreased 111000 lots to 339000 lots. Holding volume decreased 55254 to 456000 tons. Actuals side, yesterday domestic PP market totally dropped with RMB 100-200/ton. Intraday main quoted prices for wires of north China, east China and south China markets are RMB8250-8350/ton, RMB 8200-8300/ton and RMB8400-8600/ton, respectively. Now average line system changed tendency to downward. MACD green column lengthened; expect continue weak tendency.
Thursday copper market meets bolster during drop tendency. LME inventory yesterday continued increase 38775 tons to 327000 tons. LME actuals discount narrowed $0.75 to discount $17.5. Yesterday LME inventory continued the fourth day increase. Overall, considering copper market supply and need has turned good, and traditional consumption season comes, recommend buy at low positon.
Thursday Nickel market meets bolster during drop tendency. LME inventory yesterday decreased 288 tons to 386000 tons. LME actuals discount still maintains at discount $58. 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)