Daily Report 130617 2017-06-13
Monday copper price rolled back, and retreated most of the gains on last Friday. LME copper dropped 1.14%, and closed at $5763.5. LME inventory increased 2700 to 279575 tons. Last weekend and yesterday’s news side lacked. Actuals market keeps stable compared with before. Peru’s expected strike didn’t cause copper price increase. In the short-term, the market is uncertain. The risk of short position above $5800 is limited. Maintain short idea at high position.
Zinc and Lead
Overnight LME Zinc and Lead largely rolled back. LME Zinc closed at $2481/ton. LME Lead closed at $2054/ton. Shanghai Zinc and Lead night section dropped following overseas section. LME Zinc inventory decreased 1450 tons to 321575 tons. LME Lead inventory decreased 425 tons to 176875 tons. LME Zinc actuals discount is $19. LME Lead actuals discount is $24.5. As for operation, total actuals strained situation has not been actually released. Recent months may continue strong tendency. Mid-term fundamental side is not benefit to Zinc price performance. Wait for far month rally and the opportunity of short at high positon.
                                                                      Dong LV (Investment Certificate NO. TZ008452)