Daily Report 161116

Soybean
Domestically, DCE soybean night section rallied. From recent performance, soybean species are resistant of drop market tendency. Fundamental side, Northeast China district soybean price is stable. Filtered grain purchasing price is focus on RMB 3500-3600/ton. Soybean meal actuals price Monday increased RMB 20-30/ton. Coastal oil plant quotation is RMB 3200-3300/ton. As for operation, soybean species is at low position seasonal. Hold long position for Soybean Futures species in middle-term.
 
PP
Yesterday PP futures fluctuated at low position; opened at 8663 and closed at 8556, and trading volume increased 211000 lots to 508000 lots. Holding volume decreased 22274 lots to 440000 lots. Intraday main quoted prices for wires of north China, east China and south China markets are RMB 8800-8900/ton, RMB8750-8950/ton and RMB 8800-9100/ton, respectively. As for operation, now average system tendency changes. MACD red column shortened, and has the possibility of rolling back.
 
Copper
Tuesday copper market trading was weak. Copper price meets stress in the upper side, but also bolstered with 5 days average. LME inventory yesterday decreased 4100 tons to 262000 tons. LME actuals yesterday turns from discount to premium, which is premium $5. Technically, copper price is strong since late October, which is mostly influenced by market emotion and capital. As for operation, recent market is full of uncertainty; recommend be cautious.
 
Nickel
Tuesday Nickel market trading was weak. Nickel price continued fluctuation tendency, and meets bolster at 10 days average. LME inventory yesterday decreased 144 tons to 365000 tons. LME actuals discount maintained unchanged, which is 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)