Daily Report 230616 2016-06-23
Copper
Wednesday copper price continuously rebound to near the average 60. Back to copper market, LME spot goods discount narrowed $ 2.75 to discount $8.5. Storage continuously decreased 1475 tons to 191000 tons. From Bloomberg, analysis shows China SRB is predicted to purchase another 50000 tons this year, which is 200000 tons totally. As is known, it is 300000 tons last year. Technically, domestic and overseas copper price rushed to near average 60. Whether this price will be broke decide the upward space is open or not. As for trading, wait for market to be clear.
 


PP
Yesterday PP futures fluctuated at high point. Opened at 7323 and closed at 7365. Trading volume decreased 195000 lots to 495000 lots. Holding volume increased 14944 lots to 698000 lots. Spot goods side, domestic PP market price is stable and slightly increased. Individual Sinopec factory price increased, and bolster to cost increased. PP futures fluctuated and rolled back, and influence to market attitude is limited. Traders sell as market price, and observe the market reflection. Traders quoted with a slightly higher price to observe market’s reflection. Downstream factories’ willing of receiving goods is declined, and market investing and trading atmosphere is weak. Intraday main quoted prices for wires of north China, east China and south China markets are RMB 7200-7250/ton, RMB7350-7450/ton and RMB7300-7400/ton, respectively. As for operation, current moving average system arranges in long. MACD red column lengthen, which is strong tendency.
 


Nature Rubber
Yesterday Shanghai rubber increased with volume up again. US spot goods market quotation followed up: domestic spots price is 1250-1260(+20); domestic cargo price is1270-1280(+30); US RSS spots price is 1470-1480(+30); US RSS cargo price is1500-1520(+40); Singapore cargo price is 1300-1320(+20); Thai cargo price1330-1350(+40); mixed rubber price is10000-10100(+200). On the whole, upstream of the main producing countries have entered the supply season, upstream production countries enter supply season continuously. Shanghai rubber storage is near historical high point. Fundamental surface is coincident with seasonal regulation. But now many bottom fishers exit, Shanghai rubber price is expected to fluctuate in the bottom. As for operation we recommend mainly short-term.
                                                                                               Dong LV (Investment Certificate NO. TZ008452)