Daily Report 170317 2017-03-17
Soybean
Domestically, DCE soybean species weakly fluctuated. Soybean No.1 contract was still weak, which is influenced by national inventory auction rumor and capital bearish sentiment. Actuals market was weak. East and North Heilongjiang price dropped RMB 40-60/ton. As for operation, Soybean No.1 contract was not stable after the expectation of national inventory auction; recommend observation. Soybean meal is difficult to rally; if price keeps stable at 2850, recommend long position.
 
Nickel
Thursday Nickel market continued fluctuation tendency. Nickel price meets bolster at 5-days average line. LME inventory yesterday decreased 1476 tons to 385000 tons. LME actuals discount narrowed $3.5 to discount $58. Technically, considering the Fed interest hike might stress on Nickel price, recommend observation and wait for market to be clear.
 
Copper
Thursday copper market was difficult to rush high. Copper price fluctuated at low positon. LME inventory yesterday decreased 1500 tons to 339000 tons. LME actuals discount narrowed $2.25 to discount $18.75. Overall, considering copper market supply and need has turned good, and traditional consumption season comes, recommend buy at low positon.
 
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