Daily Report 050517 2017-05-05
Macro Economy
On the domestic side, Xinhua News said Xi Ping recently put forward six tasks to maintain financial security. Relevant financial sector held a meeting to safeguard the national financial security. Superimposed recently local banking regulatory bureau began to carry out on-site inspection of financial institutions within the jurisdiction of the bank, a variety of regulatory arbitrage behavior and illegal transactions become the focus of inspection. The domestic bond market bears the greater the pressure; the medium-term downward trend is difficult to reverse.
Thursday copper market trade and investment is active. Copper price fluctuated back to $5494. The main reason is sharply increased inventory and tense capital side. LME inventory yesterday continued increased 32925 tons to 318000 tons. Inventory mostly increased at Busan, with 29000 tons. Gaoxiong copper inventory yesterday increased 8000 tons. LME actuals discount narrowed $8.25 to discount $25. Overall, global macro economy is relatively gentle. But tighten capital still stress on copper price.
Midterm keeps short tendency.
                                                                                    Dong LV (Investment Certificate NO. TZ008452)