Archive for May, 2008

U.S. gasoline demand continued to drop – of the city – Financial Highlights – Sina Sina

MasterCard Advisors has released the report, U.S. retail gasoline demand last week for the fifth week of decline from a year earlier, despite the Memorial Day holiday since last week, demand has increased over the previous week. The report showed that, during the year to date, the U.S. consumer demand for gasoline over the same period dropped 1.7 percent.

The agency, vice president of research and analysis Mainamala said that the U.S. Memorial Day marks the beginning of the summer driving season, gasoline demand rose in the previous week, for such holiday weekend is normal. Nevertheless, demand is still lower than the same period last year, mainly because the spring has not yet appeared the seasonal gasoline demand growth.

May 23 ended the week U.S. gasoline consumption to 9.385 million daily barrels, representing a 2.7 percent increase the previous week, but gasoline demand was still 5.5 percent decline the previous year. Analysts point out that current gasoline prices at record highs, to encourage consumers to save fuel. (Huang Meeting)

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The dollar's rally international commodity or sound of a City News _ _ _ Sina Sina Financial

â–¡ this reporter Wang Chao

The dollar against other major currencies rebounded significantly suppressed, last night on the international market commodity futures prices fell, the majority of species below the key psychological level.

As of 20:30 last night, the dollar closed at 72.83, the New York Mercantile Exchange, August gold futures contract fell 6.7 to 899.1 U.S. dollars / oz; three-month London copper violence down from 200 to 7,935 U.S. dollars / ton, while zinc and nickel dropped to nearly Over the past two years the lowest point, the three-month aluminum fell below the 3,000 to 2,911 U.S. dollars / ton, or 58.5 U.S. dollars. But the two cities, New York and London crude oil futures prices barely rose to above 130 U.S. dollars, of which the New York Mercantile Exchange July contract closed at 130.44 U.S. dollars / barrel, the slight pick-up 0.12 U.S. dollars.

和软商品期货品种方面，除了芝加哥大豆期货小幅上扬以外，均呈回落局面。 Other and soft commodity futures varieties, in addition to Chicago soybean futures rose slightly, both down the situation.

Dollars, the hard-line speech by Federal Reserve officials, crude oil prices fall and the stock market a strong boost the trend, the European currency on the 29th午盘dollar higher against major currencies, the euro against the U.S. dollar fell below key support at 1.56 dollars. Prior to the Dallas Federal Reserve Bank President Fisher said that if the situation continues to worsen inflation, monetary policy is expected as early as possible to make adjustments. Similarly, the Minneapolis Federal Reserve Bank of Stern also noted that only the timely adjustment of monetary policy, the Fed may be only the inflation rate and inflation rate expected in the lower level of control.

The United States on the 28th of April durable goods orders fell only 0.5 percent, far lower than the market had expected a 2.0 percent drop; together with the international oil prices since 135.09 U.S. dollars / barrel record high of decline, and the Dow Jones industrial average On the 28th index closed up 0.4 percent, on the 29th Nikkei Index rose 3 percent, the foreign exchange market to U.S. dollars an all-time high popularity.

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Jiaojia skyrocketing demand-driven high of 35 per cent of shocks will be the main theme of City News _ _ _ Sina Sina Financial

â–¡ this reporter Li Mid-Autumn Festival Shanghai

国际研讨分论坛上，与会业内人士认为，天胶短期内仍将保持强势，但随着橡胶主产区天气转入正常，以及供求关系的逐步缓和，下半年胶价将保持“高位震荡”格局，但下滑空间有限。 "Growth in demand, supply has not so fast, which triggered this round of natural rubber rose," the fifth in yesterday's Shanghai Derivatives Market Forum – Natural International Conference at the Forum, participants industry believes that the natural rubber will remain the short term Strength, but with the rubber weather Zhuanruzhengchang the main producing areas, the supply-demand relationship and the gradual easing, the second half of Jiaojia will maintain "high shock" pattern, but fell space is limited.

Jiaojia demand-driven surge 35 percent

"Our products are in short supply, to May 27 so far this year, the tyre production growth rate will reach 30 percent," the production of automobile tires double the money Group Chairman Fan Xian said. There is no doubt that demand for a substantial increase in the current round of the fuse of plastic. Within a short span of one month, the Shanghai main natural rubber futures contract from 20,000 yuan / ton up to a maximum of 27,000 yuan / ton, or 35 percent.

Okazaki of Japan and overseas business, a long Inoue-chang pointed out that China's consumption of 2001 to 2007 consumption growth more than doubled, here the global consumption to 4.1 percent growth rate; At the same time, China accounted for the proportion of world consumption by 2001 15 per cent in the current rose to 26.4 percent. "I can think of natural rubber consumption growth, from 100 yen / kg up to 300 yen / kg one of the reasons," Inoue said a Chang.

Indonesian Rubber Association executive director Suharto predicted that the global natural rubber consumption in 2008 an increase of about 1.7 percent, 2009 growth rate of about 4.3% by 2010 the annual growth rate of 4.8%; corresponding is that the natural rubber output will increase significantly smaller In consumption and a declining trend. Suharto is expected, the 2008 world output growth of 3.5%, but in 2010, an increase will be reduced to 1.4%.

Will enter a "shock phase"

Experts point out that in recent years due to soaring rubber prices, and the shortage of supply and demand policy, resulting in many rubber producing countries to increase the area under cultivation, but production has remained relatively stagnant reaction will, therefore, natural rubber investors will be more complex, the overall performance will be as high Concussion main tone. "We forecast the next step will be to maintain high prices of the oscillation, to be followed by the tension between supply and demand situation will be eased, but a short time will maintain its strong trend," Inoue-chang a view.

Although shocks or high, but still limited room for downward adjustment. "As long as the rubber in Shanghai to lower inventory, I believe that the fundamentals of this market will become increasingly tight, it will continue to push prices up higher," public goods Aishi Ma Shou-Zhe Jiang fund managers that the June Tokyo Plastic to be the focus of attention around 340 yen, the Tokyo Commodity Exchange this month if prices Shoubu Zhu 340 yen, then glue the city might be down. Yesterday, the benchmark contract in Dong Jingjiao below 340 yen fluctuations. "The current oil price is relatively stable, I believe that rubber will also remain stable, and for this reason, I think rubber prices will not decline."

In response, the Thai Rubber Association, Sheng forest has similar views, he said, natural rubber first and second quarter of the price is relatively high, because the overall supply failed to keep pace with demand, but also stimulating natural rubber crude oil rose. In addition, the main producing areas of weather factors may affect the Jiaojia Jiaojia higher.

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Now that shocks down the futures of the city – or more – Sina Financial Highlights – Sina

The United States was sluggish with or covering Shanghai

Set by the United States overnight declines in gold, Shanghai has experienced this week yesterday the third consecutive session's losses, the major December contract opened lower price shocks, and after午盘gradually descending, to close at 200.33, or 1.5% , Nearly 200 yuan to wear under the control points. Larger respect turnover increased from 20,840 in hand, hand positions to reduce 3378, to 30,796 in hand, after some take the initiative to open multi-driven prices down. 格下挫明显，尤其是前一日的大幅低开为沪金后市蒙上阴影，但此轮下跌亦可看作是对上周连续跳空高开的回补，且受外盘拖累较重，今日行情虽仍不看好，但下周走势还不至太过悲观。 Although this week the Shanghai fell significantly, especially the day before the opening sharply lower as investors cast a shadow on the Shanghai gold, but this round can be seen as a down last week for Tiaokonggaokai the covering, and the , Drag a heavier disc, is still not optimistic about market today, but next week is not to too pessimistic. KDJ index analysis, MA Sicha intersection of urgency after the crash downward, investors likely than expected to stabilize the earlier. However, the proposed multi-today before closing positions to minimize, not Chongcang the weekend, the fundamentals are there to prevent accidents negative data. (TOPIX Shanghai Futures)

Simulation trading market yesterday, the 0806 contract substantially higher, and the remaining contract opened slightly lower. 0806 opened higher in recent months after the rapid fall, after the shocks down, shortly after the 0807 Open Chonggao rapid decline, the trend after the shocks, was down late. Is far from the basic means to follow the trend, maintaining shocks session, the late now refers to as the wave of decline, long-term contracts or more.

0806 month contract settled down 1.21 percent, the smallest decline, the substantial increase in trading volume, open interest increased slightly. 0807 prices fell 2.20 percent, a slight increase trading volume, open interest increased slightly. 0809 prices fell 2.86 percent, while turnover decreased slightly to increase positions. 0812 prices fell 4.34 percent, the largest decrease, the slight decrease volume, open interest has increased. – Contract yesterday by the poor have come down. 0806-poor in recent months dropped slightly, reducing 7.2 points to 136.6 points.

Yesterday's contract is with shock that fell far larger decline on the contract, the contract between the price differences are reduced. 0807-0806 contract between the spread by 24 points to a downward departure from price differences between the two balanced, pre-0806 sale of concern, bought 0,807 contracts between the inter-period arbitrage small loss, proposed to continue the position of concern. 0809-0807 contract between 21:00 to reduce the spread 654 points ,0812-0809 to reduce the contract price difference between 129 points to 497 points, the proposed continue to pay attention to buy 0807, selling 0809, to buy three contracts between 0812 butterfly arbitrage opportunities. (Shun Futures)

Viewpoint

â–  bodies Perspective

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International oil prices will be significantly decreased the future of the city – Financial Highlights – Sina – Sina

ITAR-Tass reported on the 28th, Russian Deputy Prime Minister and Finance Minister Alexei Kudrin at a news conference the same day said that by the year 2010 is expected international oil prices to 72 U.S. dollars a barrel.

Kudrin said that the above forecast and the economic slowdown of the world. At the same time, he said that the next three years the U.S. dollar against other currencies is expected to stop falling in turn stronger, but the increase will not be great.

United Nations Economic and Social Affairs Ministry report released on the 15th of this month predicted that the world economy will grow 1.8 percent this year, significantly lower than 2007's 3.8 percent growth level. The sharp downturn of the United Nations report on world economic growth expectations. January this year, the United Nations has forecast world economic growth will be 3.4 percent.

International crude oil futures prices since the beginning of this year break 100 U.S. dollars per barrel mark, all the way up an alarming rate, on the 22nd of this month topped 135 U.S. dollars per barrel, a record high. 27, a substantial drop in international oil prices, New York crude oil prices index closed at 128.85 U.S. dollars a barrel from the previous trading day down 3.34 U.S. dollars. (According to Xinhua News Agency)

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Crude oil futures timely launch of seizing pricing power – the city – Financial Highlights – Sina Sina

After each from Shanghai's Wang Lu

This year, international crude oil prices hit record highs, increased risk of fluctuations in oil prices, oil supply tension, China's refined oil pricing system contradictions have become increasingly prominent. May 29 in Shanghai Derivatives Market Forum, the industry for this phenomenon pointed out that China should adopt market-oriented means to change the current price system, actively promote the building of crude oil futures market, oil futures listed in good time, to participate in the Asia-Pacific oil pricing Centre competition.

Domestic oil pricing system embarrassing situation

The current domestic oil pricing system is facing an awkward dilemma. Assistant general manager of Shanghai Futures Exchange Jue Chu pointed out in a speech in the sea, such as the abolition of the Government Zhidao Jia finished oil products, will shortly raise oil prices, weak in the cost of living increase, but long-term sustainability of the economy have adversely affected. Refinery losses, lack of power imports, tight supply, price protection has also stimulated the consumption of oil is not conducive to energy conservation and promoting the development of high-energy consumption industries, not conducive to industrial upgrading and the development of renewable energy.

Jue Chu Hoi said that the majority of people still in China as the main form of public transport, the current price subsidies essentially a subsidy to the rich as the car owners Moreover, the large number of high-energy consumption products and low-cost export subsidies in the world . Such a policy is unreasonable, to be adopted market-oriented solution.

Introduced crude oil futures to win pricing power

Chu Jue to the sea, and improve China's oil market system, should actively promote the building of crude oil futures market, oil futures listed in good time, to participate in the Asia-Pacific Centre for oil pricing competition. At present some countries, such as the Asia-Pacific region has been re-start of the Dubai crude oil futures. Chu Jue sea that once Dubai, Russia and other countries in the oil market improved, China's construction costs will be greatly increased.

State Council Development Research Center of the Ministry of Industry researcher Yang Jianlong from energy security point of view that the establishment of the need for the oil futures market. And said that the current international oil price volatility mainly with the U.S. season, warehousing and other changes in circumstances, the information is in the hands of foreign markets investors, set up China's oil futures market to reflect the supply and demand situation in China, embodies the advantages of domestic enterprises.

Can establish offshore oil futures market

Experts in the futures market specific building is a number of recommendations. Chu Jue sea that weaker industries from the refined oil consumption, making a smaller proportion of its gasoline consumption with a more market-oriented conditions. 基本相当，燃料油期货已经成功上市交易，那么汽油实现完全市场化运转也应当不会出现问题。 Moreover, China's consumption of gasoline and rather basic, fuel oil futures trading has been successfully listed, then the petrol to be completely market-oriented operation should not be a problem.

Yang Jianlong, may consider the establishment of offshore oil futures market to dollar-denominated, offshore trading, the local delivery. This approach can bypass the foreign exchange and capital controls and other financial barriers to ensure that domestic and international traders are involved in the transaction, in the variety and choice of delivery can also take full account of our own trade, production-related factors, is conducive to the establishment of China The impact of international oil futures market.

Yang Jianlong said that the current high international oil prices, the Government is facing increasing pressure on the CPI, but is expected to enter the country after the 2009 CPI will become more stable, the international oil price will also drop, then prices for reform will have more Good external environment. chinainvestor:本版contents of the article was supplied by MarketWatch, does not constitute investment advice. Investors this operation, own risk.

China needs to continue to support bullish futures prices _ _ Sina Financial Highlights – Sina

After each from Shanghai's Wang Lu

Yesterday in Shanghai at the "International Seminar on the basis of metal", the experts from home and abroad on the basis of the metal supply, demand and prices for the analysis and prospects, and the crisis surrounding the loan-to-launched open-ended discussion.

The experts believe that the loan-to-crisis will gradually affect the real economy, thus affecting the demand for the metal. 今年还会上涨。 However, China's rising demand in North America will make up for the shortfall caused by sluggish demand, will rise this year.

The loan-to-crisis have yet to be eliminated

France and France-sheng, president of investment bank research卢卡西利普said that the economic situation now where can use letter "L" to describe that the economic downturn, will be at the bottom for a longer period of time. The loan-to-crisis affected the credit market, banks will be more cautious, and will consider adjusting its strategy, the United States and the European economic recovery can not be soon, U.S. interest rates will not rise soon.

RBSSempraMetals Yuehankanpu chief economist said that although the United States and Europe in the real estate market has not seen dramatic decreases, but the 2009 to 2010, including housing and office buildings, no signs of new projects started, there is no reason for access The new loan. The loan is expected crisis will gradually affect the entity's economic development.

China will not demand a tightening

China's demand for the existence of austerity, said the overseas market worries. China Nonferrous Metals Industry Association vice president Jia star that the country's tight monetary policy on Cu-Al little effect on demand. China's economic growth rate will not be reduced, thus the metal will not cause too much impact on supply and demand situation and the great majority of rural areas is also available in the construction and transport needs, that domestic demand is still far from being developed.

This year, China's snowstorm and earthquake occurred on metal prices will have an impact. Star said Jia, Hunan, Guizhou and Jiangxi is a major province in China non-ferrous metal production, and power supply problems on the impact of large aluminum production. Overall, the snowstorm is greater than the impact of the earthquake. Sichuan Aba aluminum plant seriously damaged in the quake, the construction industry will stimulate the consumption of non-ferrous metals.

Aluminium: a shortage of electricity production bottlenecks

Electricity shortages as the next aluminum production capacity constraints a major bottleneck, subject to the concerns of the participants. The British non-ferrous metal commodities research manager Paul Robinson pointed out that South Africa and the world's power shortage makes the price of aluminum is expected to continue to reduce. South Africa because of China's power shortage and snowstorms, earthquakes and other emergencies affecting the state of the market cushion will gradually decline, is expected in 2008 as the global aluminum surplus of 575,000 tons, representing a previous forecast of 1.2 million to 1.3 million tons a substantial cushion for Low. 预测，表示今明两年铝价将不会低于2800美元。 Based on this, he raised the 2009's forecast that the next two years Aluminum will not be less than 2800 U.S. dollars.

Paul Robinson that, despite the existence of aluminum in some cushion, but only to maintain the basic balance of supply and demand in the event of unexpected events, will soon be consumed cushion, and some production projects may be delayed, will lead to Aluminum Such as copper, nickel, etc. as quickly soaring.

Copper: copper prices will rise this year

On copper, copper Yuehankanpu that this year will rise. 1 to June due to supply and support China's demand growth in North America offset by a reduction of weak demand, prices will remain strong; 6 months to 2 years of time, due to global economic growth decline, manufacturers will reduce productivity in order to maintain high prices and High returns, from 2 to 5 years in the long term, copper prices fell by the need to make up for the previous growth, relative to other raw materials to maintain the competitive edge.

Zinc: yield market in general to see empty

Lead-zinc-air market to see significant emotional. CHR Metals Limited on behalf of off-Roberts noted that the global supply of zinc concentrate continued to increase, with the exception of new mine development, but also including the reopening of old mines and expansion. 2008 zinc concentrate is expected to yield an increase of about 1 million tons, most of the surplus production capacity concentrated in China, its fine zinc output growth far more than other parts of the world.

。 But he also said that the export tax policy changes worry about constraining the As other parts of the world zinc smelting capacity deficiencies, if China blocked fine zinc exports, will support LME zinc prices higher. chinainvestor:本版contents of the article was supplied by MarketWatch, does not constitute investment advice. Investors this operation, own risk.

U.S. derivatives regulation faced a major adjustment period City News _ _ _ Sina Sina Financial

Chen Ke, as every reporter

"U.S. financial derivatives will soon face the regulatory adjustment," Yesterday, the British Economist Group, "Chief Financial Officer," China editor of WU Chen in the "Daily Economic News" interview that China's financial institutions this will remove the financial sea "Landmines."

WU Chen said that the above information with the Economist Group of the United States have access to the exchange Division. Financial institutions, credit derivatives in the chain of asset securitization, the existence of too many agencies, each of the participants in the sale are not adequately monitoring, to any of these institutions have provided a "not responsible for impulse" a possibility. The regulation of derivatives adjustment, there are derivatives business in the table shown in Table Records branch agency or forced to reduce the scale of two ways.

"Is not included in the list of the derivatives business, to overseas financial institutions in the expansion of a financial buried mines," WU Chen said that the current Western serious financial assets shrink to financial institutions in the "sea" full of expectations. However, losses in the loan-to-assets not complete assessment before any deal is out on the hidden financial losses.

In response, WU Chen to the "Daily News" said that if the United States can not successfully adjusted the derivatives regulatory measures, China's overseas mergers and acquisitions of financial institutions is difficult to grasp the opportunity-bottomed out. He also said that the U.S. experience will help China's derivatives business regulation "less make detours."

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China Steel Group refused to raise bid for Australian iron ore producer of City News _ _ _ Sina Sina Financial

After each reporter Hao Zhiwei

According to the Financial Times reported on the 29th, the desire to acquire Australia's central and western China Steel Group ruled out the possibility of increased pricing, maintenance had 1.36 billion Australian dollars (about 1.3 billion U.S. dollars) cash offer. Analysts believe that doing so iron ore production to the central and western companies and local competitors Murchison Metals Group of the road to the merger more clearly.

Earlier, the central and western China Steel Company Group has refused to 5.6 Australian dollars / share offer, so in the steel price increase to 6.38 Australian dollars / share, and won the Midwest board's recommendation. But this week, Murchison suddenly Shachu, to a total 1.65 billion Australian dollars, equivalent to 7.74 Australian dollars / share offer, far more than in steel pricing. Shares of the Midwest this week at 7.03 Australian dollars, but also in the Steel Group's bid dwarfs. If successful merger of two Australian companies, as shareholders of the central and western regions, China Steel's 20 percent stake will drop to 10 percent. chinainvestor:本版contents of the article was supplied by MarketWatch, does not constitute investment advice. Investors this operation, own risk.

China's medium-term build stocks futures fall through the first period City News _ _ _ Sina Sina Financial

— (A reporter Feng Meng) nearly three months after the suspension, China's medium-term (000,996) finally announced a resume trading news. However, such as this is not good news to China's medium-term initiative to withdraw a huge amount of additional non-public programme, the reason for this is that the new policy was the head-on blow.

Cheng Paoying additional programme

，公司于今年2月29日公告称，拟增资收购中国国际期货和中期嘉合期货两家经纪有限公司，并增资中期期货有限公司。 China's medium-term former the company on February 29 announcement that the proposed acquisition of replenishment of the China International Futures and medium-term futures of two Ka brokers Limited, and replenishment of the medium-term futures Limited. Upon completion of the acquisition is expected that China will be holding mid-term international futures, a mid-chia, the medium-term futures three futures companies 90.83 percent, 94.97 percent and 99.40 percent stake, met the absolute majority shareholder status. March 17, shareholders through the issuance of the General Assembly votes programme.

However, after waiting for three months, China's medium-term notice that this aspiration has been to naught. Yesterday, the notice said China's medium-term, in view of this non-public offering programmes need to modify and market conditions have not yet mature, to study the decision to withdraw non-public offering this programme, the controlling shareholder of the Company and the guarantee from the date of the notice within three months not to non – To conduct a public offering consultations and discussions.

This distance from the SFC, "the main holding the same futures companies and the number of shares shall not be more than two," the new regulations only one week, it is learnt that the "one of a controlled Senate" from May 22 this year, the SFC issued "on the norms holding, Equity futures companies the provisions of the relevant issues ", which clearly stated that" the main holding the same futures companies and the number of shares shall not be more than two, holding the number of futures companies shall not be more than one; provisions since June 1 will go into effect. " The SFC said that the new regulations intended to prevent the holding futures companies, shareholders equity and futures companies and the associated risk of inter-company transfer, improper transfer of benefits.

Huan Shoushuai resume trading as high as 3.6 percent or 28.49%

Before the suspension, China's medium-term limit for three consecutive days Wuliang, the foresight of the funds is obviously gamble in the issuance of China's medium-term programme.

Yesterday morning, shares in the 58-day suspension for future trading resumed. Affected by this, China's medium-term Open Dieting is to close early.

But 13:08, two series of ultra-large 60,000 hand-Zaxiang Chinese medium-term, the amount of over 200 million yuan, from the mid-跌停板China will quickly pull to limit, buying the waves, and then drop shocks, to close at 18.21 Yuan, or 3.6 percent, the transaction volume of 597 million yuan, up 28.49 percent Huanshou Shuai.

National Securities analysts believe that China's medium-term trend is not optimistic, investors resumed the probability of a Budie great. A small number of analysts believe that additional withdrawal is not bad, its original strategy will not change, nor will we originally handed over their own futures companies to give way, do not rule out after three months the possibility of resuming the plan.

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