Daily Report 291116
Domestically, DCE soybean night section rolled back. Fundamental side, soybean price slightly increased. Heihe and Suihua filtered soybean purchasing price increased RMB 40/ton. Recent market price increase is mainly because of US soybean price increase and farmer unwilling to sell. Short term actuals price is expected to maintain increase tendency. Soybean meal actuals price increased RMB 60-80/ton. Coastal oil plant quotation is maintained with RMB 3450-3520/ton. As for operation, hold long position for Soybean Futures species in middle-term.
Monday copper market was weak to rush high. Copper price rushed to $6045.5 then slightly dropped. LME inventory yesterday decreased 2950 tons to 234000 tons. LME actuals yesterday enlarged $0.75 to discount $15.25. 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.
Monday Nickel market is difficult to rush, and fluctuated within the day. LME actuals discount yesterday enlarged $1 to discount $47.5. "At least $ 500 million worth of downstream investment may be lacking cash flow if there is no slowdown in nickel ore export restrictions," Antam said, and hopes the government will agree to export some of the nickel ore, according to Antam, a state-controlled mineral miner. Overall, although the macro environment uncertainty still exists, nickel prices are still fundamentally dominated, because the upstream supply problem is still not resolved, nickel prices will continue to be supported below.
Yesterday PP futures opened low and increased; opened at 8352 and closed at 8478, and trading volume increased 13858 lots to 239000 lots. Holding volume decreased 3406 lots to 310000 lots. Intraday main quoted prices for wires of north China, east China and south China markets are RMB 8500-8800/ton, RMB 8500-8750/ton and RMB 8600-8850/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)