Daily Report 151116

Domestically, DCE night section drop tendency slowed. Fundamental side, Northeast China soybean price is stable. Filtered grain purchasing price is focus on RMB 3500-3600/ton. Soybean meal actuals price Monday dropped RMB 40-80/ton. Coastal oil plant quotation is RMB 3200-3300/ton. Till last weekend, domestic oil plant total soybean inventory is 480000 tons. As for operation, soybean species is at low position seasonal. Long for Soybean Futures species in middle-term.
Monday copper market is weak; the price is weak to rush and fluctuated at low position. LME inventory yesterday decreased 4700 tons to 266000 tons. LME actuals discount narrowed $1.75 to discount $6.5. Supply side, Chile September copper output decreased 1.7% to 459700 tons. Filtered copper output is 322300 tons. SX-EW copper output is 137400 tons. CODELCO September copper output decreased 1.1% Y/Y to 158800 tons. Cochilco maintains this year’s output expectation. As for operation, recent market is full of uncertainty; recommend be cautious.
Monday Nickel trading is weak; Nickel price meets stress at 5 days average. LME inventory yesterday increased 1092 tons to 366000 tons. LME actuals discount narrowed $0.5 to discount $45. Technically, Nickel price rolled back after the influence of non-ferrous market. Thinking about the bolster effect of fundamental side, before the Philippines supply problem is clear, Nickel price will still be bolstered by fundamental side. As for operation recommend observation.
                                                                                             Dong LV (Investment Certificate NO. TZ008452)