Daily Report 101116

Soybean
Domestically, cash side, Northeast China soybean most districts price is stable, and partial dropped. Filtered grain purchasing price concentrated in RMB 3500-3600/ton. Soybean meal cash side price of individual places is mixed with up and down. Coastal oil plant quotation is RMB 3190-3280/ton. As for operation, reduce hold soybean long position.
 
Copper
Wednesday copper market continued strong tendency. Copper price get bolster at 5 days average and largely increased. LME inventory recent are dropped. And the decreasing LME copper inventory has not transferred to other exchanges. Till late October, three main exchanges total inventory decreased 50000 tons compared with late September. Technically, copper price is strong. This strong tendency may maintain in short term.
 
Nickel
Nickel market LME inventory Wednesday increased 192 tons to 363000 tons. LME actuals maintain unchanged, which is discount $42.5. Technically, Nickel price is strong recently. This strong tendency will maintain till the Philippines supply problem is clear.
 
                                                                                             Dong LV (Investment Certificate NO. TZ008452)