Daily Report 150217
Tuesday copper market was weak to go upward. Copper price fluctuated at high position. The main reason is workers of Escondida accept mediation released market’s worry about supply side. LME inventory yesterday decreased 4475 tons to 243000 tons. LME actuals discount enlarged $14.25 to discount $16.75. LME actuals market is weak. Industry side, Copper mine Escondida of BHP workers agree to start mediation with government. Technically, after copper price broke former fluctuation range, there is still space for rally. If roll back happens, can choose opportunity to buy.
Domestically, DCE soybean No.1 contract night section largely rolled back. Oil meal continued weak tendency. Actuals side, Northeast China soybean main production areas price is stable. Quotation is around RMB 3840-3960/ton. Soybean meal actuals quotation is stable and weak. Partial oil plant quotation decreased RMB 20-30/ton. As for operation, recommend long position with bolster of 4150. Reduce soybean meal long position at high point.
Tuesday Nickel market fluctuated upward. Nickel price reached $10895, then largely fluctuated at lower position. LME inventory yesterday decreased 1494 tons to 382000 tons. LME actuals discount enlarged $5 to discount $55. LME actuals market is relatively weak. Technically, Nickel price ended loss and rallied. Yesterday broke 10-days average line. The rally tendency will continue.
                                                                                              Dong LV (Investment Certificate NO. TZ008452)