Daily Report 300916
Yesterday PP futures market opened high and increased; opened at 7252 and closed at 7317, and trading volume increased 170000 lots to 415000 lots. Holding volume increased 17474 lots to 667000 lots. Intraday main quoted prices for wires of north China, east China and south China markets are RMB7750-7800/ton, RMB 7850-7900/ton and RMB 7950-8000/ton, respectively. As for operation, now average system twisted. MACK formed golden cross, and showed the sign of rally. But refer to National Days Holiday suspension and OPEC production frozen agreement rumor, the fluctuation direction is not sure, and risks are high. Recommend empty or light position.
Thursday copper market adjusted. Copper price was weak to rush high and bolstered at the bottom. LME inventory yesterday increased 10100 tons to 379000 tons. LME physical narrowed $1.25 to discount $15.75. Supply side, the influence of Australia south Australia large-scale power cut enlarged. Besides Olympic Dam from BHP claimed production suspension, Prominent Hill from OZ Minerals also stopped production. We focus on resistance at 10 weeks average.
The domestic side, DCE soybean tendency before the National Day slowed down in order to lighten up the risk-based control. Northeast soybean prices are stable, the market mainstream purchase price is 3600-3700 yuan/ton, car prices are 3800-3900 yuan/ton. The purchase of grain is not active, due to the export situation is not ideal, sales market is currently main selling national inventory beans and beans along the Huaihe River, northeast new beans have been neglected, the future of soybeans face concentrated come into market, if the transaction is not ideal prices will continue to fall. Soybean meal side, the spot price is stable, oil prices stable at 3220-3280 yuan / ton. At this stage the market is cautious. As for operation, near national day holiday, be cautious for position. Can hold buying oil selling meal arbitrage position.
                                                                                                Dong LV (Investment Certificate NO. TZ008452)