Daily Report 171116

Soybean
Domestically, DCE soybean night section weakened following overseas section. From recent performance, soybean species are resistant of drop market tendency. Fundamental side, partial Northeast districts price slightly increased. Filtered grain purchasing price is focus on RMB 3560-3640/ton. Soybean meal actuals price Monday increased RMB 10-20/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.
 
Stock Index
Yesterday stock index slightly fluctuated. GEM rushed high then rolled back. News side, the State Council issued a new round of the northeast revitalization strategy, giving priority to support the northeast enterprises to apply for IPO, focusing on the Northeast enterprise market-oriented debt-swap program. Macroeconomic data: October investment stabilized and continued slow recovery trend, private investment growth has two consecutive months of recovery, mainly due to PPP landing faster, driving private investment and infrastructure investment. Compared with last month, October consumer spending fell 0.7 percentage points, lower than market expectations. Mainly due to a marked decline in auto consumption growth, food and beverage retail sales Y/Y growth rate also declined. Technology trends, the broader market, the Shanghai and Shenzhen 300 trend is better, but small and medium-sized board GEM failed to form linkage, SSE 50, CSI 100 and so on facing the stock market calamity pressure last year. Cautious to long, bargain patience to seize the opportunity.
 
Copper
Wednesday copper market trading was weak. Copper price rolled back at 5 days average with stress. The strengthen US dollar index brings stress to copper price. LME inventory still at the tendency of continuous decrease. But yesterday LME actuals premium sharply dropped to discount, which shows market is weak. 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
Wednesday Nickel market trading was weak. Nickel price was resisted at 5 days average. But still meets bolster at bottom. LME inventory yesterday increased 468 tons to 366000 tons. LME actuals discount enlarged $1 to discount $46. 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)