Daily Report 140317 2017-03-14
Yesterday PP futures opened low and increased. Opened at 8035, and closed at 8245. Trading volume increased 54246 lots to 371000 lots. Holding volume decreased 24910 to 457000 tons. Actuals side, yesterday domestic PP market continued drop tendency. Intraday main quoted prices for wires of north China, east China and south China markets are RMB 8150-8300/ton, RMB 7900-8200/ton and RMB 8150-8400/ton, respectively. Now average line system changed tendency to downward; expect continue weak tendency.
Monday copper market was weak. Copper price fluctuated upward. LME inventory yesterday increased 5700 tons to 331000 tons. LME actuals discount enlarged $3.75 to discount $19.5. Overall, considering copper market supply and need has turned good, and traditional consumption season comes, recommend buy at low positon.
Monday Nickel market strongly rallied. LME closed with increase of 2.92%. LME inventory yesterday decreased 1068 tons to 384000 tons. LME actuals discount enlarged $1.5 to discount $56.5. 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)