Daily Report 191016

Soybean
Domestically, DCE soybean meal rallied. Oil against meal ratio rolled back. Market filtered grain price is RMB 3500-3700/ton. Northeast market price was stable for the last week. The following price we tend to fluctuate at low price. Since increase and drop all face resistant, market exists much bearish to resist price rally. Soybean meal side, actuals price continued slight increase tendency. Partial place increased RMB 20-30/ton. Costal oil plant quotation is RMB 3200-3280/ton. As for operation, soybean species roll for long. Buy oil selling meal arbitrage stop gain at 2.3:1.
 
Copper
Tuesday copper market continued weak tendency. Copper price stress at 5 days average. LME inventory increased 2200 tons to 348000 tons. LME actuals narrowed $0.25 to discount $21.25. Supply side, after one man from Cotabambas died after conflict, strike happened since Monday. Striker blocked the way to Las Baambas miner. Galaxy Futures hold the opinion that this miner is the main production increase mines. The second half year expected output is 100000 tons. Technically, copper price is under the tendency of drop. Since it dropped much at the earlier time, it may adjust in the short term. Keep hold short position.
 
PP
Yesterday PP futures market opened flat and increased; opened at 7594 and closed at 7822, and trading volume increased 23920 lots to 424000 lots. Holding volume increased 38030 lots to 754000 lots. Intraday main quoted prices for wires of north China, east China and south China markets are RMB 7850-8100/ton, RMB 8050-8250/ton and RMB 8350-8550/ton, respectively. As for operation, now average system is for long. MACD red column lengthened, which is strong tendency. Continue strong tendency in short term.
                                                                                                              
                                                                                                         Dong LV (Investment Certificate NO. TZ008452)