Daily Report 210916

Yesterday Shanghai rubber continued strong tendency. Till actuals trading time: domestic spots price is 1590-1620(+40); domestic cargo price is 1450-1480(+30); US RSS spots price is 1640-1660(+20); US RSS cargo price is 1640-1660(+20); Singapore cargo price is 1460-1470(+20); Thai cargo price 1470-1490(+20); mixed rubber price is 11400-11600(+100). Overall, nature rubber actuals is seasonal alleviated. But micro side uncertainty is large. Recommend short-term speculate.
Yesterday PP futures market continued fluctuation; opened at 7103 and closed at 7132, and trading volume increased 173000 lots to 395000 lots. Holding volume increased 24988 lots to 730000 lots. Actuals side, yesterday domestic PP market continued slightly rolling back tendency. Futures largely fluctuated. Influence on market mindset is limited. Factory price of most Sinopec districts declined. Cost support of market decreased. Intraday main quoted prices for wires of north China, east China and south China markets are RMB 7700-7850/ton, RMB 7700-7900/ton and RMB 7900-8000/ton, respectively. As for operation, current moving average system is short; MACD exposure downward extended as weak pattern, and recommend price fluctuation and downward trend.
Tuesday copper market fluctuated and went upward. Copper price ended with slightly increase. LME inventory decreased 1675 tons to 348000 tons. LME physical discount enlarged $1 to discount $23.75. LME funds positioning data shows that till last Friday, net funds position increased 12000 lots to 23000 lots. Long position increased 8789 lots to 121000 lots. Short position decreased 3319 lots to 98000 lots. Long position buying in and short position closing rallied last week’s copper price. Technically, copper price has adjusted near high position. Temporarily wait for the Fed conference result.
                                                                                                    Dong LV (Investment Certificate NO. TZ008452)