Daily Report 130317 2017-03-13
Stock Index
Last week stock index increased then dropped. Hot points lacked and was weak. February import and export data and financing data was less than expected, to bring the market disturbance. Government work report shows that this year's stimulus will not be great, the infrastructure will not exceed expectations, the deficit rate and the same as last year. Overall, the domestic fundamentals are still good, and the reform of state-owned enterprises speed up. The short-term index will adjust; medium-term is optimistic.
Last week copper market was weak. Copper price reached $5652; then meets bolster. LME inventory last Friday decreased 1800 tons to 326000 tons. LME actuals discount narrowed $1.75 to discount $15.75. Overall, considering copper market supply and need has turned good, and traditional consumption season comes, recommend buy at low positon.
Last week Nickel market was weak. Nickel price largely dropped near 60-weeks average line. Last Friday LME inventory decreased 852 tons to 385000 tons. LME actuals discount narrowed $3 to discount $55. 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)