Daily Report 071116

Nature Rubber
Last week Shanghai rubber fluctuated at high position, cash side: domestic spots price is 1530-1550(0); domestic cargo price is 1500-1520(0); US RSS spots price is 1650-1670(0); US RSS cargo price is 1660-1680(0); Singapore cargo price is 1520-1530(+10); Thai cargo price 1550-1580(0); mixed rubber price is 12200-12300(+100). Overall, recent market capital tendency is obvious, speculation capital focus on black species. Shanghai rubber focus on short-term trade.
Last week copper market was strong, and copper price broke the fluctuation range resistant line within the year. Last week three main exchanges inventory decreased 26072 tons to 480000 tons. SHEX inventory decreased 4709 tons to 98000 tons. LME inventory decreased 20850 tons to 311000 tons. COMEX decreased 513 tons to 72000 tons. LME physical last week maintains discount tendency. Friday discount $13.5. From Shanghai Nonferrous Metal Market, last week physical TC quotation was still $95-105/ton. Technically focus on price performance around $5130. Cautious when operation, and do not chase high.
Last week Nickel market continued high position fluctuation. Two exchanges inventory increased 1000 tons to 471000 tons. SHEX inventory decreased 998 tons to 107000 tons. LME inventory increased 1998 tons to 364000 tons. LME physical last week maintains discount tendency. Friday discount $41.5. Till last Friday, domestic seven nickel mines inventory is 11.08 million tons, slightly decreased 90000 tons compared with last week. From Shanghai Nonferrous Metals Market, Nickel minerals inventory of all ports is 14.7733 tons, equivalent to 120100 tons of Nickel. 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.