Daily Report 241116

Domestically, influenced by overseas section, DCE oil and meal strength also changed. Fundamental side, Northeast China partial districts price slightly increased. Filtered grain purchasing price is focus on RMB 3620-3680/ton. Soybean meal actuals price increased RMB 20-40/ton. At present the overall domestic capacity is tight, and during the Spring Festival transport difficulties will continue, thus helping the rapid rise in protein meal market prices. The market worry about the follow-up weather, logistics and other deterioration, the factory stock is relatively tight and limited delivery, feeders winter reserve stocking is relatively positive. Most of the oil plant implement November contract, available for sale is limited. As for operation, hold long position for Soybean Futures species in middle-term.
Wednesday copper market meets bolster at 5-days average. Copper price increased a lot, and LME increasing range is 2.78%. LME inventory yesterday decreased 2875 tons to 239000 tons. LME actuals discount yesterday narrowed $0.5 to discount $15.5. Customs data shows that late October China refined copper and copper alloys export is 22909 tons. Overall, the current trend of copper out of the fundamentals, the dollar index and crude oil are uncertain, it is recommended that temporary short-term operation. 
Yesterday PP futures opened flat and dropped; opened at 8757 and closed at 8514, and trading volume increased 25658 lots to 366000 lots. Holding volume decreased 42922 lots to 376000 lots. Intraday main quoted prices for wires of north China, east China and south China markets are RMB 8550-8700/ton, RMB 8600-8750/ton and RMB8600-8800/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)