Daily Report 280217
Yesterday PP futures opened high and fluctuated. Opened at 8703, and closed at 8687. Trading volume increased 58270 lots to 392000 lots. Holding volume increased 44048 to 480000 tons. Actuals side, yesterday domestic PP market price ended loss and stable. Intraday main quoted prices for wires of north China, east China and south China markets are RMB 8500-8600/ton, RMB 8550-8750/ton and RMB 8700-8800/ton, respectively. Now average line system changed tendency to downward. MACD green column shortened; expect continue weak tendency.
Nature Rubber
Yesterday Shanghai rubber night section went downward with increasing trading volume. Till actuals trade time: domestic spots price is 2130-2150(-90); domestic cargo price is 2120-2140(-100); US RSS spots price is 2540-2550(-60); US RSS cargo price is 2550-2580(-50); Singapore cargo price is 2170-2200(-100); Thai cargo price 2250-2300(-70); mixed rubber price is 17600-17700(-900). Overall, Nature rubber fundamental side has no short news. Technically test 20-weeks average line and 5-months average line bolster.
Domestically, DCE soybean was still weak. Soybean No.1 contract was stable at 4100. Soybean meal dropped by overseas section influence. Actuals side, Northeast China partial district soybean price continued increase. As for operation, Soybean No.1 contract dropped below 4150 bolster line, recommend observation. Now domestic and overseas atmosphere is weak. Wait for the end of adjustment for long.
                                                                                              Dong LV (Investment Certificate NO. TZ008452)