Daily Report 310317 2017-03-31
Thursday copper market is difficult to rush high. Copper price meets resistance. LME inventory yesterday decreased 6725 tons to 298000 tons. LME actuals discount narrowed $5 to discount $18. Overall, considering copper market supply and need has turned good, and traditional consumption season comes, recommend buy at low positon.
Stock Index
Yesterday stock index opened low then drop; lost point 3200. Xinjiang section continued to be strong. Yi Dai Yi Lu and Port Section increased a lot in the morning. Rushed high then rolled back. PPP concept section and central enterprises reform section also dropped.
DCE soybean continued weak tendency fluctuation. The market is waiting for USDA report release. Now domestic soybean actuals price is stable. But market investment and trade is still weak. Traders worry that 2011 soybean outbound will affect market. Outbound price may be RMB 3500/ton.
Soybean actuals price slightly dropped. Partial oil plant quotation slightly dropped RMB 10-30/ton. Coastal districts oil plant quotation is RMB 2910-2980/ton.
As for operation, Soybean No.1 contract focus on 3600 bolster line. Recommend observe since auction is not clear.
                                                                                    Dong LV (Investment Certificate NO. TZ008452)