Daily Report 031116

Soybean
Domestically, soybean No.1 maintains roll back. Drop of overseas section weakened the soybean tendency. Oil against meal tendency has risen recently. Cash side, Northeast district soybean market purchasing and sales are still weak. Cash prices are stable. Totally, market is still under great supply stress. Sales are low. Short-term price is difficult to rally. As for operation, long for Soybean Futures species, and focus on next week USDA report.
 
Copper
Wednesday copper price adjusted at high position, and meets bolster at 5 days average. LME inventory yesterday decreased 475 tons to 319000 tons. LME physical discount enlarged $1.5 to discount $13.75. Technically, after recent rally, copper price is near fluctuation range resistant line of $4950. We focus on performance near resistant line.
 
Nickel
Wednesday Nickel market rolled back. LME inventory decreased 102 tons to 363000 tons. LME physical discount enlarged $3 to $41. Antam ferro-nickel output of 2016 is 6089 tons, increased 79% Y/Y. Third quarter ferro-nickel output is 14394 tons, increased 12%. The main reason is that the transformer of No.2 smelting plant has been repaired at May. Technically, Nickel is still fluctuated at high position. The former two days’ weak uprush showed stress at the top. Observe for trade temporarily, and wait for supply tendency clear.
                                                                                                              
                                                                                                             Dong LV (Investment Certificate NO. TZ008452)