v3 Chapter 864： The pigs are not fat enough (1/2)

The latest website: If the price of LME copper futures is converted to the price of US advanced copper futures, it is equivalent to 0.6740 US dollars per pound, and the price of LME aluminum futures converted to Alcoa futures is equivalent to 1.3612 US dollars per pound.

But look at the opening prices of advanced copper futures and aluminum futures on the New York Mercantile Exchange this morning, which are $0.6320/lb and $1.2965/lb, respectively.

For these two types of futures, the London Metal Exchange's prices are higher than 5%.

This gap is not too small!

And judging from the overlap of customers between the London Metal Exchange and the New York Mercantile Exchange, the prices of LME copper futures and LME aluminum futures on the London Metal Exchange will soon affect the premium copper futures and Alcoa futures of the New York Mercantile Exchange. , This kind of out-of-hours factors will prompt the prices of advanced copper futures and Alcoa futures to rise.

This bullish factor is absolutely terrible news for shorts like Salomon Brothers.

”I seem to have been dragged down by Philip Brothers. Albert Raphael absolutely underestimated the power of bulls.”

John Gufran thought gloomily.

”I still have to find out if Albert Raphael has any follow-up preparations. If not, I will have to plan early...”

Thinking of this, John Gufran took out an address book from the drawer, found one of the numbers on the page of Philip Brothers, and pressed the button to dial it.

Soon, the call was connected, and Albert Raphael's slightly enthusiastic voice came from the receiver.

”John, good morning...”

”Albert, good morning, I got a message. I don't know if you know that the prices of London LME copper futures and LME aluminum futures are significantly higher than the prices of American copper futures and Alcoa futures... you know?”

”Well, what are you going to do? You are the main force for shorting this time... OK, I am waiting for your reply, please be sure to...”

After speaking briefly, John Gufran narrowed his eyes, thinking back and forth about Albert Raphael's attitude and what he said.

For a long time, he opened his eyes and encouraged his subordinates to retreat. Then he went to the operation room and issued an order to temporarily reduce the short-selling effort. At the same time, he ordered the risk evaluation department to combine the current situation with the investment risk of advanced copper futures and aluminum futures. Perform a reassessment.

John Gufran has felt that he seems to have been fooled by Albert Raphael. If Philip Brothers does not exert enough strength, he will have to consider whether to continue with Philip Brothers.

...

No matter how short sellers such as Philip Brothers and Salomon Brothers struggle, Xia Yu is not nervous.

In his opinion, from the time he invested a large sum of money to purchase spot contracts, the dominant power of the situation has already fallen into his palm.

Anyway, his capital is enough to manipulate the two markets, no matter how the shorts struggle, they are doomed to fail.

It depends on whether the bears are still willing to continue to increase.

From Xia Yu's point of view, he must be eager to continue to invest money shortly. The more short-term investment, the more profits he can harvest.

Because of something temporary, Xia Yu didn't arrive at the New York branch of Galaxy Fund until 9:30 in the morning.

After the arrival, Xia Yu was in a good mood when he saw the company once again dominate the price trend of advanced copper futures and aluminum futures.

Just a closer look and found that the trading volume and frequency of advanced copper futures and aluminum futures were not as good as before, and Xia Yu realized that the shorts were hesitating.

If the commission is excluded, in principle, the futures market is a zero-sum game, and shorts and longs are equal, and neither party can sing a one-man show.

This feature of the futures market is different from the stock market, because the stock market is not a zero-sum game.

If the shorts do not follow up, the Galaxy Fund will not be able to spend its money.

The transaction volume and transaction frequency Xia Yu sees in the operation room is estimated to be equivalent to about two-fifths of the time when the struggle began.

Of course, Xia Yu's side is always ready to place buy orders to buy, and there is no sign of lack of success. The key lies in the short side, and the selling order volume is decreasing, which makes Xia Yu's side unable to open.

Seeing this situation, Xia Yu suddenly felt disappointed.

Phillip Brothers, now the number one futures market in the United States, plus Salomon Brothers, is this strength?

”Song Yang, what about the statistics of open interest?”

Taking Song Yang back to the office, Xia Yu sat down on the sofa, looked at Song Yang with his arms folded, and asked.

Song Yang said, wait a minute, and went out for a minute or so. When he came back, he already had a document in his hand and handed it to Xia Yu respectfully: ”Boss, the data is here.”

Xia Yu took it smoothly, looked at it seriously, and contemplated it from time to time.

Now I have held 98,200 lots of advanced copper futures, costing 1.459 billion US dollars. According to the opening price this morning, the value reached 1.552 billion US dollars, so the advanced copper The floating profit of futures is 93 million U.S. dollars.

The aluminum futures open interest is 61,450 lots, costing 1,881 million U.S. dollars. According to the opening price this morning, the value reached 1,992 million U.S. dollars, which is about to reach two. One billion US dollars, the floating profit of aluminum futures reached 110 million US dollars.

The two types of futures add up to a total floating profit of US$204 million.