On Sumitomo Trading Company, when the final copper price was fixed at US$2,748, even Hamazaka Thai men couldn't see the current situation clearly.

"Everyone, let's talk about it. What does this bull market mean?" Although Sumitomo Commercial Company holds a total of about 30,000 long positions and has made a lot of money in this wave of rising market, Hamazaka Thai men do not like this feeling of losing manipulation, especially when various bulls frequently pull up.

A long position of 30,000 lots cost more than US$300 million. In addition, Sumitomo Trading Company also needs to prepare 200 million to 300 million US dollars for backup purposes. In addition, their accounts often have about US$500 million of funds, and are always ready to continue to follow up.

Kenjiro Oshima said first: "According to my recent analysis, it is very likely that this bull is preparing to leave the market. After all, their previous trading plan has been realized. The rise in the market copper price is an illusion they created because they need trading volume to close the position. I think that when their positions are about the same, it is when the copper price falls. According to the recent trading situation, they can give out all their contracts in the past two days."

I have to say that Kenjiro Oshima's analysis was very accurate and appropriately grasped the bullish mentality. After he finished speaking, he looked at Hamaakaya Tai's eyes as if asking for his opinions, and as if seeking credit.

"I don't think so. The support for copper prices is still strong. Although the current prices look a bit high, I personally think that copper futures prices still have room for growth. After all, the demand for copper in the United States and Europe continues to increase. In addition, there is no sign of slowing down in the world's economic growth. In addition to the current Chilean copper industry, the profits of the other nine world's largest copper exporters have increased to varying degrees. They have recently stated that they will increase mining and mining in the fourth quarter and

The quantity of exports. I personally think that this is a sign of the rise in copper prices again. According to my analysis, it is very likely that the copper prices will rise to $3,000 per ton at the end of the fourth quarter." Kenjiro Oshima's voice fell, and an inappropriate voice suddenly sounded. Kenjiro Oshima couldn't help but feel a little angry. He looked at the speaker with dissatisfaction. He found that it was Yasuo Ryusuke, one of the ace analysts in the copper department. Seeing that it was him, Kenjiro Oshima could only swallow the rebuttal words.

Seeing that Kenjiro Oshima didn't say anything, Ryusuke Yasuo glanced at him proudly and then sat down slowly.

As the host of the conference, Taibo Hamaakana seemed to have not seen the two of them fighting openly and secretly. She frowned and thought for a while, then turned to ask Kenjiro Oshima: "Oshima San, according to your judgment, how many positions are this bull has, and how will the situation in Chile develop?"

Seeing that Hama-aka Thai man tends toward him, Kenjiro Oshima was delighted and said calmly: "According to the news I have received, this bull market has gradually lost about 30,000 long positions in the market. At present, it should still retain a long position of about 12,000 long positions, and the position of the position should be around 2,700 US dollars. I believe that when they take all this position, they will announce that Chile and the investors have reached an agreement. At that time, they may enter the market again or leave directly. Both are possible, and this cannot be judged for the time being."

"30,000 long orders?" The Thai man's pupil suddenly shrank, and then a kind of flashing passion appeared from his eyes. "If we can keep this part of the bulls on the field, then we can further push up the copper price."

At this time, what he thought was not the fundamentals that supported the copper price, but the fact that such a bull could join forces with him to go long and jointly push the copper price to a new high. It has to be said that he was really bold and reckless.

You should know that in addition to him, there are many big players in the copper futures market. Not to mention other things, just the local metal companies in Europe have accumulated a large number of short positions in the copper futures market all year round. These metal companies themselves have a lot of demand for copper, and shorting is not purely for hedging. The best among them can even compete with Binzhong Thai men.

"Apart from that, what other abnormal movements are happening in the market?" After a while of fantasy alone, the Thai man suddenly felt something was wrong. The office was so quiet that he couldn't help but put away his thoughts and asked calmly.

Kenjiro Oshima is the best at observing his expression. When he saw the appearance of Hamazaka Taimen, he immediately knew that this immediate boss was changing the topic. So he immediately stood up and said passionately: "Hanaka San, although there are bulls currently reducing their holdings, I also found that there are other bulls constantly eating, and the number is not small, almost comparable to the bulls who have reduced their holdings!"

"Oh?" Hamaakaya Tai's man was very satisfied with his clever reaction. He did not take Kenjiro Oshima seriously and asked casually: "Do you know who it is?"

"It's not clear yet, and the broker cannot find out the news. However, LME's recent copper futures inventory has been increasing, which may be the cause of this bull, and most importantly, the inventory comes from a warehouse in London."

Because LME has a global influence in the non-ferrous metal market, LME has established warehouses around the world, including Europe, Asia, America and other places. LME will announce these inventory situations to the market every day.

Hearing that the inventory had changed, the Thai man at Hamazu finally recovered and then changed his face. Now that the inventory has increased, the meaning that can be reflected is a bit complicated. There is no doubt that this is the shorts preparing for delivery, and this situation undoubtedly puts strong pressure on the longs.

In the copper futures market, except for a few hedging accounts, not many are sincerely preparing for physical delivery. Now the short sellers are transporting copper in, and they clearly say that they want to deliver. How can this not make the bulls feel panic?

The design of lme non-ferrous metal futures contracts is different from that of most futures exchanges in the world. Here, the copper 3 contract refers to each copper futures contract for three months, and can be opened or sold on any trading day. For example, on November 11, you sell a new copper futures contract. The delivery time of this contract is February 11 (if it is a trading day). In November and December contracts on the market are mostly contracts opened in September, October, November and other times. Among them, the September contract has the worst liquidity and the October liquidity is the best.

"How much has it been added?" The Thai man in Hamazu changed his face, and he sat upright and asked with a serious expression.

Kenjiro Oshima turned his head unnaturally, avoided the questioning gaze of Hamazaka Taima, and said guiltily: "According to our statistics, it has recently increased by about 20,000 tons, and the number is not very large." 20,000 tons, which is less than 1,000 copper futures contracts, is nothing for Sumitomo Trading Company, which often holds tens of thousands of hands. Kenjiro Oshima did not report it in time. As a result, he missed his words in a negligent manner, and naturally he was a little afraid of Hamazaka Taima's blame.

"20,000 tons? It's not too big." The Thai man from Hamaakana breathed a sigh of relief and couldn't help but feel a little funny. He was a little too fussy. It was all caused by the recent changes in copper prices. It made him feel a little dissatisfied with the giants in the copper market in this period. Thinking of this, he couldn't help but feel a little dissatisfied, and his eyes looked at Kenjiro Oshima.

According to his information, many hedge funds from the United States have also entered this market, including the famous quantum funds and the Tiger Fund that almost defeated France. Compared with these hedge funds, Sumitomo Trading Company's funds in London are not enough for them to see, which is exactly what Hamazaka Thai men are worried about during this period.

Although fundamentals show that copper futures prices cannot fall in the short term, this is the futures market after all, and any situation may occur. If a hedge fund with strong funds has a whim and short on a certain day or at a certain stage, it is difficult to ensure that the market will not reverse in the short term.

Therefore, even a man like the strongest man in the Taiwan Middle School has deliberately reduced his position during this period. You should know that in normal times, the positions he owns account for as much as a quarter of the open positions in the entire market. Now there are only a mere 30,000 lots, which is already a small scale.

"In addition, according to my information, the bulls that are now closed in the market are likely to be quantum funds from the United States." Seeing that he had caused trouble, the most important thing is to make timely remedies. Kenjiro Oshima's eyes turned and then said something that surprised everyone here.

"How is this possible?" Tainan Hamazaka's first reaction was that he didn't believe it. You should know the number of positions, operation strategies and other things are definitely highly confidential. Even the exchange does not know the specific long holders, let alone Kenjiro Oshima.

However, this market is not airtight, and there will always be rumors of one kind or another. Even though Binzhong Thai man repeatedly told his traders not to disclose their position, he could not affect the broker. Therefore, the name "Mr. 5%" was circulated in the market.

Kenjiro Oshima saw that Hama Nakazu had not received similar information, and couldn't help but feel a little secretly grateful. After a proud look flashed across his face, he said with a serious look: "I have some friendship with American brokers. Some time ago, a broker revealed to me privately that the news of the Chilean copper strike was on the run some time ago was that Quantum Fund was operating, and they also made huge profits. But now they have begun to withdraw from the copper market in the future. I believe that it is precisely because of this reason that the brokers dare to tell the news."

"If this is the case, it is really possible, which means that this wave of market is coming to an end." Ryusuke Yasuo touched his smooth chin and said to himself. Then he turned to the Thai man of Hamazaka and asked worriedly: "Hanaka Sang, if this is the case, should we reduce our positions in time to avoid losses?"

In this case, reducing positions is a wise choice, but the Thai man in Hamazu is not a person who can persuade him casually. In this way, his concerns are reduced by half, so he will naturally not do things like reducing positions. He suddenly stood up and said enthusiastically: "We don't operate in the market, and this market is almost forgotten. We will not only not reduce positions, but also continue to increase positions, so that these guys can know how powerful we are!"

Many traders were stunned for a moment when they looked at the sudden loss of composure of Hamazu Thai man. (To be continued, please search Piaotianwen, the novel is better and faster!
Chapter completed!