Daily Report 270217
Last week PP futures continued downward. Upstream side, till Friday night, Korea FOB average price is $975.5/ton. Intraday main quoted prices for wires of north China, east China and south China markets are RMB 8550-8750/ton, RMB 8550-8800/ton and RMB 8750-8900/ton, respectively. Now average line system changed tendency to downward. MACD green column lengthened; price dropped below 60-days average, and expected continue week tendency.
Last week copper price was difficult to rush, and copper price meets bolster at 5-weeks average. LME inventory last Friday decreased 3225 tons to 211000 tons. LME actuals discount narrowed $1.25 to discount $13. Overall, copper price rolled back. Considering copper market supply and needs market turns good, and traditional consumption season is coming near, recommend buy at low positon.
Last week Nickel price rushed high and rolled back. Nickel price meets bolster at average lines intensive area. Last Friday LME inventory decreased 2040 tons to 380000 tons. LME actuals discount narrowed $2.5 to discount $51.5. Technically, Nickel price was weak. Observe temporarily and wait for market to be clear.
                                                                                              Dong LV (Investment Certificate NO. TZ008452)