Daily Report 120717 2017-07-12


Zinc and Lead

Overnight LME Zinc and Lead tendency differentiated. LME Zinc continuously increased to $2821. LME Lead closed at $2309. Shanghai Zinc night section largely increased. Shanghai Lead slightly increased. LME Zinc actuals inventory decreased 3025 tons to 276200 tons. LME Lead inventory decreased 650 tons to 159125 tons. LME Zinc actuals discount is $1. LME Lead actuals discount is $20.5. Totally, LME Zinc inventory still continues decrease. Meanwhile market capital still bet on bullish. Zinc price may continue strong performance. As for operation, recently market macro risk enlarged, Shanghai Zinc and Lead short-term may fluctuate at high positon. Totally may maintain fluctuation and strong tendency.

 
Copper

Tuesday copper market fluctuated and rallied. Copper price broke 5-days average line. LME inventory yesterday decreased 225 tons to 320000 tons. LME actuals discount narrowed $0.25 to discount $27.75. Industry side, Indonesia side claims that they will invite Free Port CEO to visit Jakarta this month, and try to solve the dispute about the second largest Copper mine operation agreement. Grasberg copper mine of Free Port is in Indonesia, because of the dispute between Free Port and Indonesia government, copper output been influenced. Totally, LME inventory largely increase stress on actuals discount. 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.

 
                                                                      Dong LV (Investment Certificate NO. TZ008452)