Daily Report 151216
Domestically, DCE soybean night section fluctuated. Oil against meal ratio maintained fluctuation around 2.4:1. Actuals side, Northeast China district soybean purchasing price is RMB 3600-3760/ton. The main reason is Heihe and Qiqihaer district purchasing price increased, Beian and Nenjiang district partial grain traders purchasing futures soybean with large amount. Futures soybean purchasing price is RMB 3720/ton. Soybean meal actuals price is stable and increased. North district quotation increased RMB 20-50/ton. As for operation, focus on No.1 soybean contract delivery. Soybean meal maintain long at roll back opportunity.
Wednesday copper market adjusted, and bolstered at 5-days average line. LME inventory yesterday largely increased 20000 tons to 278000 tons. LME actuals discount narrowed $6.25 to discount $6.25. Overall, the fundamentals of the copper market has indeed become stronger than before, but does not support the copper out of the bull market. Copper price has the possibility of return to fundamental side in short term.
Wednesday Nickel market maintained fluctuation at high position. LME inventory yesterday increased 1140 tons to 370000 tons. LME actuals discount narrowed $0.5 to discount $52.5. Industry, according to Reuters news, the New Caledonia nickel ore miners have applied to enhance the export of nickel ore for China, the New Caledonia government next week will assess the application on the nickel ore business. On the whole, nickel prices are still fundamentally dominated, the current supply of nickel appears to begin to show signs of change, pay attention to port nickel laterite nickel ore inventory changes and the approval of New Caledonia nickel ore export progress, concerned about the possible price of nickel downside risk.
                                                                                                                      Dong LV (Investment Certificate NO. TZ008452)