Daily Market Report 071216
Soybean
Domestically, DCE soybean No.1 contract fluctuated at high position. Soybean species followed overseas section. Northeast district soybean actuals price was stable. Heilongjiang filtered grain purchasing price is RMB 3640-3700/ton. Soybean meal partial place actuals price slightly increased RMB 10-20/ton. Coastal oil plant quotation is RMB 3440-3490/ton. As for operation, soybean No.1 contract price is more than warehouse cost, and upward space is not much. Soybean meal maintain long at roll back opportunity.
 
Copper
Tuesday copper trading was weak, and copper price meets bolster at 5-days average line. LME inventory yesterday decreased 3525 tons to 230000 tons. LME actuals discount yesterday enlarged $3.25 to discount $8.25. Overall, copper prices are expected to be short-term difficult to fulfill due to the expected rebound in demand, the copper market fundamentals do not support copper prices out of the bull market, so although the dollar index close to bullish and expected weak, But the copper price is likely to go out with the dollar with the market. Galaxy Futures insists that the rebound in copper prices lacks fundamentals and is skeptical about the resilience of copper prices.
 
Nickel
Tuesday Nickel trading was weak and adjusted near high position. LME inventory yesterday increased 186 tons to 369000 tons. LME actuals discount yesterday narrowed $6.5 to discount $44. Overall, nickel prices are still fundamentally dominated, because the upstream supply problem is still not resolved, nickel prices will continue to be supported below.
 
                                                                                                                  Dong LV (Investment Certificate NO. TZ008452)