Daily Report 090117
Soybean
Domestically, DCE soybean No.1 contract is bolstered by actuals; contract 1705 is fluctuated at RMB 4250/ton. Dalian soybean meal is weak, influenced by weak actuals. Domestic supply increased and stocking before spring festival was more than half. Actuals side, Northeast China area filter grain purchasing price is RMB 3800-3900/ton. Soybean meal actuals price dropped. Coastal oil plant quotation is normally RMB 3300-3360/ton.
 
Copper
Last week copper market is difficult to rush high. Copper price reached 5-weeks average then hard to maintain, and rolled back partially. Last week LME inventory continued decrease. LME weekly inventory decreased 27000 tons. LME actuals still discounts a lot. Last week average was discount $17.2. LME actuals market is still weak. Technically, copper price effective rally should break $5600 resistance. Wait for copper market to be clear.
 
Nickel
Last week Nickel market broke 5-days average line resistance, and closed with slightly increase. Last week LME nickel inventory slightly decreased 360 tons weekly. Till last Friday was 371000 tons. LME nickel actuals still maintains discount tendency. Last week average discount was $54.7. Technically, nickel price is under low position fluctuation. Focus on nickel price near 10-days average line.                                                                           
                                                                                               Dong LV (Investment Certificate NO. TZ008452)