Daily Report 241016

Domestically, DCE soybean fluctuation increased, especially soybean oil. Last week oil against meal ratio rolled back after increase. Recent domestic soybean market differentiates. North and south soybean price is of much difference. Northeast China price continued stable. Purchase price keeps RMB 3560-3680/ton. Market purchasing and sales are even weak, and price fluctuation is weak. Along Huai River district soybean price continued increase. Soybean meal side, costal oil plant quotation is RMB 3200-3280/ton. As for operation, soybean species roll for long. Buy oil selling meal arbitrage stop gain.
Last week copper price was weak, and reached resistance position of downward fluctuation interval again. Last week three main exchanges inventory basically maintain stable, which is 538000 tons. SHEX decreased 3805 tons to 118000 tons. LME inventory increased 2425 tons to 349000 tons. COMEX increased 1159 tons to 72000 tons. LME physical last week maintains discount situation. Last Friday discount $20.75. Last week LME average discount was $20.8. Technically, copper price is under the tendency of drop. Copper price reached resistance position of downward fluctuation interval of $4633; we focus on the performance of price near resistance line.
Last week PP futures rushed high and fluctuated. Upstream side, till Friday night, Korea FOB average price is $815.5/ton. Actuals side, this week domestic market slightly adjusted. Intraday main quoted prices for wires of north China, east China and south China markets are RMB 8050-8200/ton, RMB 8200-8400/ton and RMB 8350-8550/ton, respectively. As for operation, now average system is for long. MACD upward expanded, which is strong tendency.
                                                                                                     Dong LV (Investment Certificate NO. TZ008452)