Daily Report 231116
Soybean
Domestically, DCE increasing tendency slowed. Fundamental side, Northeast China partial districts price slightly increased. Most districts market price is stable. Filtered grain purchasing price is focus on RMB 3620-3680/ton. Soybean meal actuals price increased RMB 30-50/ton. The current domestic oil plant downtime is more, the actuals tense situation intensified, and the recent transportation capacity is tight, it is expected short-term soybean meal basis will continue to maintain a high level. However, there have been reports of avian flu cases in the near future, to guard against the negative impact on the short-term market. As for operation, hold long position for Soybean Futures species in middle-term.
 
Copper
Tuesday copper market was weak and slightly fluctuated. LME inventory yesterday decreased 4800 tons to 242000 tons. LME cash discount yesterday enlarged $0.5 to discount $16. The recent dominant stocks continued to decline in the trend, the overall dominant inventory levels are still higher than in previous years. Therefore, although the stock continued to decline, but more of a repair process, the entity needs are still doubtful. Overall, the current trend of copper out of the fundamentals, the dollar index and crude oil are uncertain, it is recommended that temporary wait or short-term operation. 
 
PP
Yesterday PP futures opened high and increased; opened at 8590 and closed at 8747, and trading volume increased 10728 lots to 341000 lots. Holding volume increased 16928 lots to 419000 lots. Intraday main quoted prices for wires of north China, east China and south China markets are RMB 8500-8700/ton, RMB 8600-8750/ton and RMB8550-8750/ton, respectively. As for operation, now average system twisted. MACD green column shortened. Recent may back to fluctuate situation.
                                                                                     Dong LV (Investment Certificate NO. TZ008452)