Daily Report 030117
Yesterday PP futures opened low and fluctuated downward. Opened at 8673, and closed at 8580. Trading volume decreased 4490 lots to 387000 lots. Holding volume decreased 17746 to 462000 tons. Actuals side, yesterday domestic PP market narrowed fluctuated. 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.
Tuesday Nickel market meets bolster at 5-days average. Nickel price fluctuated at high position of the day. LME inventory yesterday decreased 1146 tons to 377000 tons. LME actuals discount enlarged $1.5 to discount $52.5. Technically, recent nickel price is strong. Recommend short-term operation.
                                                                                              Dong LV (Investment Certificate NO. TZ008452)