Daily Report 300617 2017-06-30

Overnight LME Nickel closed at 9260 and increased 0.22%. Holding position increased 102 lots to 240059 lots. Inventory decreased 1044 to 372870. Trading volume is 8704 lots. Recently ferro-nickel and nickel ore price increased. Nickel actuals premium also went strong. Stainless steel actuals price sharply increased again. Actuals trading is active. Short-term stainless steel output will continue increase tendency; and short-term nickel need is expanding. With the stability of supply, Nickle price will continue to increase.


Gold and Silver

Technically, this week gold and silver price reached below bolster repeatedly. The total tendency is decrease. Today night many data will release, including the US core PCE price index in May and the United States the University of Michigan consumer confidence index in June is particularly important. London gold is still struggling near the bolster position, but Shanghai gold has fallen below bolster position; silver, both domestic and overseas has not yet dropped below bolster position. Today, focus on bolster at the bottom. If the data is significantly bad, then tonight might has a big possibility of break bolster. It is recommended that long positions investors pay attention to risk control.



Thursday copper market trading and investment is active. Copper price reached the highest $5963.8; then rolled back partial increase. LME inventory yesterday decreased 5375 tons to 243000 tons. LME actuals discount narrowed $5.75 to discount $8.75. Industry side, Escondida copper mine of BHP first season copper output largely decreased 63% to 97000 tons. The reason is the 44 days strike during the first season. Totally, recent LME inventory decrease and weaken US dollar push copper price rally; but with the end of consumption season, the bolster of consumption weakened. Domestic money policy still has no change, financial regulation and relatively tight money policy put stress on copper market. Keep short point of view in mid-term.

                                                                      Dong LV (Investment Certificate NO. TZ008452)