Daily Report 221116

Soybean
Domestically, oil and meal strength is not obvious. Fundamental side, partial districts of Heilongjiang price increased. Filtered grain purchasing price is focus on RMB 3620-3680/ton. Coastal oil plant quotation is RMB 3200-3300/ton. Soybean meal actuals price increased RMB 40-80/ton. This year our spring festival is at the end of January, and is one month advanced than the former years. As for operation, hold long position for Soybean Futures species in middle-term.
 
Copper
Monday copper market increased a lot. LME rose 2.28%. From main reason, US dollar stressed at high position is the main reason. LME inventory yesterday decreased 6625 tons to 247000 tons. LME cash discount yesterday enlarged $4.5 to discount 415.5. Industry side, ICSG reports showed that global filtered copper market August supply surplus is 154000 tons, and is 10000 tons more than July of 144000 tons. This year January to August global filtered copper market supply shortage is 91000 tons. Technically, copper price adjusted after former market and capital emotion. Copper price is strong in the short-term. 
 
PP
Yesterday PP futures opened high then dropped; opened at 8273 and closed at 8515, and trading volume increased 9054 lots to 352000 lots. Holding volume decreased 12066 lots to 402000 lots. Intraday main quoted prices for wires of north China, east China and south China markets are RMB 8450-8550/ton, RMB 8500-8700/ton and RMB 8550-8750/ton, respectively. As for operation, now average system tendency changes. MACD exposure downward extended. Recent may back to fluctuate situation, and recommend observation.
 
Nickel
Monday Nickel market is strong. LME nickel price increasing range reached 4.07%. LME inventory yesterday increased 582 tons to 366000 tons. LME cash discount enlarged $1.8 to discount $46.5. From industry, Indonesia 350000 yearly output cold-rolled stainless steel project started. This project designed output is 350000 tons. Expected operation time is October 2017. Totally, now nickel supply problem and total macro atmosphere will create bolster at the bottom.
                                                                                                                   Dong LV (Investment Certificate NO. TZ008452)