The trading volume of China Shencheng Metal Exchange suddenly increased significantly, and the trading volume was extremely active, which quickly attracted the attention of many domestic companies.

In addition, at an economic forum not long ago, Huahai University collaborated with a number of economic experts to explain the impact of commodity price changes on corporate production costs, and how to use the financial derivatives market to avoid the risk of systemic price fluctuations in the market.

Most of the production or demand companies involved in the electrolytic copper industry have asked how to operate.

Even many foreign-funded companies are quite interested.

Not long ago, Panasonic invested in several new factories in eastern Guangdong Province to produce TVs, air conditioners, refrigerators, etc. Among them, the more expensive consumables are electrolytic copper.

So.

Panasonic also established a small long position on the Shanghai Nonferrous Metals Exchange to avoid the possible cost increase caused by rising copper prices.

Some electrical, light industry, machinery manufacturing, construction industry, defense industry and other enterprises are also eager to do this.

He has shown strong interest in forward buying of financial derivatives to avoid the risk of upward market prices.

Not many people know that the market maker behind the suddenly active Shencheng CU is Jiuding Group.

Wall Street.

Shen Jiannan took a look at the statistical data passed by Lu Shu, his eyes a little blurry.

People often say that capital has no borders.

But I never mention the price paid by the Jews in Germany because there are no national borders.

Now Quantum Fund, Morgan and other investment banks are willing to join forces with them to strangle Sumitomo because they occupy the general trend in the United States. But in the future, I am afraid that I will be the target of these guys.

Ring ring ring!

The phone rang suddenly.

It was William who called, and this guy said as soon as he opened his mouth: "Boss, my admiration for you is like a torrent of water, flowing endlessly. The London Stock Exchange just issued an announcement and set new trading rules, stipulating that the premium and discount will reach zero.

Minus twenty-eight, that hammer is dead this time."

Regarding this news, Shen Jiannan was not surprised at all. The fate of Japan's major financial groups had been doomed since the collapse of the Soviet Union.

Having lost its use value in suppressing the Soviet economy, Japan was so fat but had no force of its own. It was like a pig covered in meat, waiting to be slaughtered.

But Shen Jiannan was a little dissatisfied with William's flattery, and said angrily: 'William, when will you improve your flattery?'

William sighed: "Boss, I have tried my best."

Shen Jiannan raised his eyebrows and said: "How many long-term positions have been established now?"

William said: "1.6 billion."

"..."

After hanging up the phone, Shen Jiannan looked at the trend of London copper prices and tapped lightly on the table.

Sumitomo is not an ordinary group company. Hamanaka Tainan has been in the copper market for so many years and is called Mr. Hammer. It is not that easy to deal with.

Since ancient times in China, some private enterprises have been eager to fight to death when competing. They have even joined forces with foreign capital to recruit their own people, and they have also used the pretext of attracting foreign capital.

It is said that this is different.

The Japanese consortium is very united in suppressing foreign investment. They rely on each other and attack and defend each other.

Hamanaka Yasuo's position in the market is only 5%, but he has been able to control copper prices. In addition to Sumitomo's huge financial background, it is also inseparable from the fact that companies such as Mitsubishi & Co., Ltd. and Marubeni have shares in major international copper companies.

relation.

Otherwise, Hamanaka Tainan will not be able to catch the bearish trend of public opinion jointly created by himself and Soros.

Although the British are now using rules to set a trap for Sumitomo, it is still a large-scale war to attack the Sumitomo Zaibatsu.

2950.

The computer interface shows the price trend of London copper.

When the trend chart is zoomed out together, the continuous trend is like undulating hills or a battlefield full of ravines, with murderous intent everywhere.

The first is to attack the enemy, the second is to attack the enemy, the third is to attack the army, and the third is to attack the city.

In any kind of war, the easiest way to win is undoubtedly to conquer the enemy without fighting.

Looking at the consolidation range that Lun Tong, together with Quantum Fund and Tiger Fund, made under his own instruction, near 2700 points, Shen Jiannan raised his eyebrows, with a cold flash in his eyes.

London, England.

Hamanaka Tainan was so angry that he cursed at his mother and beat things in the office crazily.

He found that he completely underestimated the strength of international capital.

Shameless strength.

To actually join forces with the regulatory authorities and the exchange to suddenly modify the trading rules is simply despicable and shameless to the extreme.

The new regulations of the London Stock Exchange mean that the spot discount cannot be less than $28 for March copper, but on the contrary, the spot premium can be infinite.

In the futures market, if the spot price is lower than the futures price, the basis is negative, and the price of forward futures is higher than the price of near-term futures. This situation is called "futures premium", also known as "spot discount".

The excess of the forward futures price over the near-term futures price is called the "futures premium";

If the price of forward futures is lower than the price of near-term futures and the price of spot is higher than the price of futures, the basis difference is positive. This situation is called "futures discount" or "spot premium".

The part where the forward futures price is lower than the near-term futures price is called the "futures discount rate."

Since Sumitomo controls a large amount of spot goods, Hamanaka Tainan has established a large number of positions in recent contracts, keeping the price of the main London copper contract at a high level.

In conjunction with Sumitomo's spot registration warehouse receipt, Sumitomo's capital can completely force the position into high-priced spot selling.

You can make money with spot stocks, and you can also make money with futures squeeze manipulation.

This is the operation of Tainan Maehama on the spot.

It is precisely because of this sharp approach that Hamanaka Yasuo has been able to stay in the position of Sumitomo's chief trader since he joined Sumitomo at the age of 22.

In the past, people in this position would be replaced within three years at most.

As for Mr. Hammer, he stayed there for more than ten years.

Over the years, Hamanaka Tainan has brought billions of dollars in profits to Sumitomo.

In the past, Hamanaka Tainan mainly relied on pulling the March copper contract to squeeze out positions, but this time, after encountering a strong opponent, he discovered that there was a serious flaw in his strategy.

Spot premium.

Due to the mandatory regulations of the London Stock Exchange, the spot discount must not be lower than $28 for March copper.

However, spot premium can be enlarged infinitely.

This allowed capital, led by First International Capital, to seize the tiny loophole and establish a large number of short positions in forward contracts.

Markets influence each other.

As the forward contract continued to fall, Hamanaka Tainan's positions were all in the three-month contract, and he was unable to attack the price drop of the forward contract.

Affected by the decline in forward contracts, there has also been a lot of selling pressure on recent contracts.

Hamanaka Yasuo knows.

This move of International Capital is just a drunkard's intention. The real purpose is to attack the long positions in his hands.

But there was nothing he could do.

In the March contract, Sumitomo has invested more than 10 billion US dollars, and futures are all cash transactions. Hamanaka Tainan can no longer withdraw more funds to defend against long-term contracts.

He also cannot withdraw funds from recent appointments to counterattack, otherwise he will lose sight of the other and be double killed by his opponent.

However, affected by the forward short-selling pressure, the pressure on bulls on the March contract is much greater than before.

"Damn bastard!"

"mean!"

After venting his anger, Hamanaka Tainan forced himself to calm down and start thinking.

Now, his only chance is to completely strengthen the trend of the March contract to squeeze out those damn international capitals.

Nine o'clock in the evening London time is the most active time for copper in London.

Due to the impact of the new regulations of the exchange, London Copper opened sharply lower and was severely suppressed during the session. The decline reached 7%, approaching 2,750 points.

In the early stage, it consolidated at the 2700 point level for half a month.

This means that the position of 2700 is equivalent to the defensive position between the short sellers and the gap between life and death.

There is no absolute defense in the world, so the best defense is always offense.

From the perspective of the bulls, if you want to get back to the current disadvantage, you need to defeat the negative news brought by the exchange, defeat the short funds in the market, and force these bastards to close their positions.

Only by defeating the attacks from the short sellers can the bullish camp be maintained.

Under capital there is only profit.

As long as you raise the price of copper and force some small retail investors to cut their positions, those shrimps will turn into buying, putting the short side's camp under tremendous pressure.

No one will remain indifferent to losses.

Once the pressure is too great, short sellers will actively stop losses or passively close positions, which will become a new force in the bull camp.
To be continued...