Daily Report 161216
Domestically, DCE soybean night section increased; influenced by stronger soybean oil and rallied US soybean. Actuals side, Northeast China district grain warehouse purchasing price increased RMB 100-130/ton. Since this year Northeast China soybean quality damaged a lot, grain warehouse purchasing quality decreased. Soybean meal partial district actuals price slightly decreased. Oil plant quotation is RMB 3460-3550/ton. As for operation, focus on No.1 soybean contract delivery. Soybean meal maintain long at roll back opportunity.
Thursday copper market narrowly fluctuated. Copper price meets stress at average line. LME inventory yesterday largely increased 17000 tons to 295000 tons. LME actuals discount enlarged $2.25 to discount $8.5. 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.
Thursday Nickel market was weak. Nickel price reached November fluctuation upper bond then lack motion, closed with drop of 1.83%. LME inventory yesterday increased 1668 tons to 371000 tons. LME actuals discount yesterday narrowed $2 to discount $50.5. 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)