Chapter 191 Mr. Hammer's concerns

  Sumitomo Corporation’s side, when the final copper price was fixed at 2,748 US dollars, even Hamanaka Yasuo could not see the current situation clearly.

"Everyone, let's talk about it, what is the meaning of this long position that has been pulled up in the market?" Although Sumitomo Trading Co., Ltd. holds a total of about 30,000 long positions, it has made a lot of money in this rising market. Pen, but Binzhong Tainan doesn't like this feeling of losing control, especially when various bulls are frequently pulled up.

  30,000 long positions cost more than 300 million US dollars. In addition, Sumitomo Corporation has to prepare 200 to 300 million US dollars of funds for backup purposes. In addition, their accounts often have about 500 million US dollars of funds, and they are always ready to continue to follow up.

Kenjiro Oshima first said: "According to my recent analysis, it is very likely that the bulls of this stock are preparing to leave the market. After all, their previous trading plan has been realized. The current rise in copper prices in the market is an illusion created by them, because they It takes volume to close out. I think by the time they close out their positions, that's when the copper price will drop. Based on recent trading, they've been able to close out all of their contracts in the last two days."

   It has to be said that Kenjiro Oshima's analysis is very accurate, and he has properly grasped the psychology of this bull. After he finished speaking, he looked at Binzhong Tainan, his eyes seemed to be asking for his opinion, and he seemed to be asking for credit.

"I don't think so. The current support for copper prices is still strong. Although the current price looks a bit high, I personally think that copper futures prices still have room to rise. After all, the demand for spot copper in the United States and Europe continues to increase In addition, the growth of the world economy shows no signs of slowing down. Except for the current Chilean copper industry, the profits of the other nine largest copper exporters in the world have increased to varying degrees. Increase the number of mining and export in the fourth quarter. I personally think that this is a sign of another rise in copper prices. According to my analysis, copper prices are very likely to rise to $3,000 per ton by the end of the fourth quarter." Oshima As soon as Kenjiro's voice fell, an untimely voice suddenly sounded. Oshima Kenjiro couldn't help feeling a little annoyed, and looked at the speaker with dissatisfaction, and found that it was Yasuo Ryusuke, one of the ace analysts of the copper futures department. Oshima Kenjiro could only swallow his rebuttal.

  Seeing that Oshima Kenjiro was silent, Ryusuke Yasuo glanced at him triumphantly, and then sat down slowly.

As the host of the meeting, Hamanaka Tainan didn't seem to see the two of them fighting openly and secretly. He frowned and thought for a while, then turned his head and asked Oshima Kenjiro: "Oshima-san, according to your judgment, are the bulls in this part in the end?" How many positions are held and how will things play out in Chile?"

Seeing Tainan Hamanaka leaning towards himself, Oshima Kenjiro was overjoyed, and said calmly: "According to the news I got, the bulls of this stock have gradually sold out their long positions of about 30,000 lots in the market. At present, there should still be about 12,000 long positions, and the opening position should be around 2,700 US dollars. I believe that when they exhaust this part of the position, they will announce that Chile has reached an agreement with the management. At that time, they may enter the market again to short, or Or leave the field directly, both are possible, this cannot be judged for the time being.”

"30,000 long orders?" Tainan Binzhong's pupils shrank suddenly, and then a kind of fiery heat was projected from his eyes, "If we can keep these long positions in the market, then we can further push up the copper price. "

  At this time, what he thinks is not the fundamentals that support the copper price, but that such a bull can join hands with him to do more and jointly push the copper price to a new high. It has to be said that it is really bold.

You know, besides him, there are quite a few predators in the copper futures market. Let alone a few local metal companies in Europe, they have accumulated a large number of short positions in the copper futures market all the year round. These metal companies themselves There is a huge demand for copper, and short selling is not purely for hedging. The best of them can even compete with Hamanaka Tainan.

"Other than that, what other changes are there in the market?" Tainan Binzhong, after masturbating alone for a while, suddenly felt that something was wrong. The office was too quiet. He couldn't help putting away his thoughts and asked calmly. road.

Oshima Kenjiro was the best at observing words and expressions. When he saw Hamanaka Yasuo's appearance, he immediately knew that his immediate boss was changing the subject, so he immediately stood up and said impassionedly: "Hamanaka-san, although many people are currently reducing Hold, but I also found that there are other longs who are constantly buying, and the number is not small, almost comparable to the longs who have reduced their holdings!"

   "Oh?" Hamanaka Yasuo was very satisfied with his opponent's witty response, he didn't take Oshima Kenjiro's words seriously, and asked casually, "Do you know who it is?"

   "It's not clear yet, and brokers can't find out the news. However, the recent increase in copper futures stocks announced by the LME may be the result of this long stock, and the most important thing is that the stocks come from warehouses in London."

  Because LME has a global influence in the non-ferrous metal market, LME has warehouses all over the world, in Europe, Asia, America and other places. The situation of these stocks, LME will announce to the market every day.

  Hearing that the inventory had changed, Hamanaka Tainan finally came to his senses, and immediately changed his face. Now that the inventory has increased, the meaning that can be reflected is a bit complicated. There is no doubt that the bears are ready to deliver, and this situation undoubtedly exerts strong pressure on the bulls.

  Other than a few hedging accounts, few of those who enter the copper futures market are sincerely preparing for physical delivery. Now that the short sellers are bringing in the copper, and expressing their intention to deliver, how can this not make the bulls feel panic?

The design of LME non-ferrous metals futures contracts is different from that of most futures exchanges in the world. The copper 3 contract here means that each copper futures contract lasts for three months and can be opened or sold on any trading day. For example You sell a new copper futures contract on November 11th, and the delivery time of this contract is on February 11th (if it is a trading day). However, most of the November and December contracts on the market are contracts issued in September, October, November, etc. Among them, the liquidity of the September contract is the worst, and the liquidity of the October contract is the worst. most.

   "How much has it increased?" Binzhong Tainan's complexion changed, and he sat up straight and asked sternly.

Oshima Kenjiro turned his head unnaturally, avoiding Hamanaka Tainan's questioning eyes, and said with some guilt: "According to our statistics, the increase has been about 20,000 tons recently, and the number is not very large." 20,000 tons, that is, less than The quantity stipulated in the 1,000 copper futures contract is nothing to Sumitomo Trading Co., Ltd., which holds tens of thousands of contracts at every turn. Kenjiro Oshima did not report it in time. As a result, he made a negligent statement and slipped his mouth. Naturally, he was a little scared Hamamanaka's blame.

   "20,000 tons? It's really not too big." Hamanaka Tainan breathed a sigh of relief, and couldn't help being a little amused secretly, and he was a bit too surprised. It was all caused by the recent fluctuations in copper prices, which made him, a tycoon in the copper futures market, a bit of a ghost. Thinking of this, he couldn't help but feel a little dissatisfied, and looked at Kenjiro Oshima with a somewhat unkind look.

  According to his intelligence, many hedge funds from the United States have also entered this market, including the famous Quantum Fund, and the Tiger Fund that almost broke France. Compared with these hedge funds, Sumitomo Corporation's capital in London is not enough for them to see. This is exactly what Hamanaka Tainan is worried about during this period.

Although the fundamentals show that the price of copper futures is unlikely to fall in the short term, this is a futures market after all, and any situation may happen. If a hedge fund with strong funds has a whim and sells short on a certain day or at a certain stage, it is difficult to guarantee that the market will not go wrong. There will be a reversal in the short term.

Therefore, even someone as strong as Hamanaka Tainan intentionally reduced his position during this period of time. You must know that in normal times, his positions accounted for as much as a quarter of the open positions in the entire market. Now only A mere 30,000 lots is already a relatively small scale.

"In addition, according to my information, the long position in the market today is likely to be from the Quantum Fund in the United States." Seeing that he had caused trouble, the most important thing now is to remedy it in time, Kenjiro Oshima rolled his eyes , and then said something that surprised everyone present.

"How is this possible?" Binzhong Tainan's first reaction was to not believe it. It is absolutely highly confidential to know the number of positions and operating strategies. Even the exchange does not know the specific holders of long positions, let alone Kenjiro Oshima.

However, this market is not airtight, and there will always be rumors of one kind or another. Even if Hamanaka Yasuo has repeatedly ordered his traders not to disclose their positions, he cannot influence the brokers, so In the market, he was called "Mr. Five Percent".

Kenjiro Oshima saw that Hamamaka Tainan had not received similar information, and he couldn't help but secretly rejoiced. After a flash of complacency flashed across his face, he said with a serious face: "I have some friendship with American brokers. At that time, a broker revealed to me in private that Quantum Fund was operating on the news of the copper strike in Chile some time ago, and they made huge profits because of it. But now they have begun to withdraw from the copper futures market. I believe it is precisely because of this reason, Only the agent dares to tell the news."

   "If this is the case, then it is really possible, and it also means that this wave of market prices is coming to an end." Long Jie Yasuo touched his smooth chin and said to himself. Then he turned to Binzhong Tainan, and couldn't help asking worriedly: "Hinaka-san, if this is the case, should we reduce the position in time to avoid losses?"

  In this case, it is a wise choice to reduce the position, but Hamanaka Yasuo is not a person who can be easily persuaded, so that his worries are reduced by more than half, and naturally he will not do the self-binding thing of reducing the position. He suddenly stood up and said with great pride: "We are not operating in the market, and this market has almost forgotten me. Not only will we not reduce our positions, but we will continue to increase them. We must let these guys know our position sharp!"

  Many traders looked at Hamanaka Yasuo who suddenly lost his composure, and were stunned for a moment.

   Thank you very much for the monthly ticket support of book friend lao Daozi! Thank you for your interest in this book!

  

  

  (end of this chapter)