Daily Report 240117

Nickel
Monday Nickel market ended drop and rallied, and met stress at 5-days average. LME inventory yesterday decreased 36 tons to 372000 tons. LME actuals discount enlarged $3.5 to discount $55. From a technical point of view, taking into account the Spring Festival holiday is approaching, the market risk is high; do not recommend hold positions during the New Year. Recommend short-term operation before festival.
 
Copper
Monday copper market fluctuated and increased. LME inventory yesterday decreased 750 tons to 275000 tons. LME actuals discount enlarged $3.5 to discount $21.5. From a technical point of view, taking into account the Spring Festival holiday is approaching, the market risk is high; do not recommend hold positions during the New Year. Recommend short-term operation before festival.
 
Soybean
Domestically, DCE soybean market fluctuated, and market before Spring Festival is flat. Actuals side, Soybean actuals market price is stable. Heilongjiang and Inner Mongolia purchasing price is RMB 3800-3900/ton. Under the circumstances that market lack of good news stimulation, supply and need maintain observation. Recently districts surplus grain quantity decreased. As for operation, soybean meal meets support at 2800, and recommend long position with bolster of 4150.
                                                               
                                                                                               Dong LV (Investment Certificate NO. TZ008452)