Daily Report 220217
Tuesday copper market slightly adjusted. Copper price meets bolster. The main reason is strong US dollars. LME inventory yesterday decreased 2600 tons to 221000 tons. LME actuals discount enlarged $2.75 to discount $14.5. Technically, after copper price broke former fluctuation range, there is still space for rally. If roll back happens, can choose opportunity to buy.
Tuesday Nickel market was weak. Nickel price dropped 5-days average line. LME inventory yesterday increased 1116 tons to 385000 tons. LME actuals discount enlarged $0.75 to discount $56.5. Technically, Nickel price dropped a lot. Recommend end profit and wait for market to be clear.
Domestically, DCE soybean night section went weak. Soybean No.1 contract bolstered by fundamental side, and will continue strong tendency. Soybean meal strong and oil weak tendency will continue, although soybean meal fundamental side is not good enough. Actuals side, North east China domestic soybean price has the sign of stable price. Domestic soybean meal actuals price increased RMB 20-320/ton. Oil plant quotation is RMB 3150-3200/ton. As for operation, recommend long position with bolster of 4150. Reduce soybean meal long position at high point.
                                                                                              Dong LV (Investment Certificate NO. TZ008452)