1,793,000 bbls of crude oil (sc1903) was delivered

This weekly report is provided by Huatai Financial USA on Friday afternoon, Chicago time. The data sources are INE, DME, CME, ICE, and various news sources.*Note: 1. Volume, Open Interest and turnover include buy and sell (double-side counted); 2. Volume and Open Interest are measured in lots; 3. Turnover (notional value) is measured in 10,000 RMB; 4. Price is daily/weekly last trading price.

Weekly Volume, Open Interest, and Turnover

1,662,310 lots of China crude oil futures were traded during 3/4/2019 - 3/8/2019, and the weekly turnover (notional value) was 729,022,700,000 RMB, approximately $108.46 billion. The average daily trading volume for the current week was 332,462 lots/day.

Historical Price (front-month contract price)

U.S. job growth almost stalled in February, with the economy creating only 20,000 jobs amid a contraction in payrolls in construction and several other sectors. The report dragged down U.S. stock markets, along with oil futures. “Weve witnessed this week a rekindling of worries about demand growth,” said Gene McGillian, vice president of market research at Tradition Energy in Stamford, Connecticut. “The labor report that came out earlier today with such a small number of jobs added has helped keep the market focused on that.” Financial markets also took a hit after comments on Thursday from European Central Bank President Mario Draghi, saying the European economy was in “a period of continued weakness.”

Meanwhile, U.S. crude production has increased by more than 2 million bpd since early 2018 to 12.1 million bpd, making America the worlds biggest producer, the Energy Information Administration reported. Investment bank Jefferies on Friday said that U.S. output growth was largely being fueled by onshore shale production, which had recently benefited from investments by oil majors like Exxon Mobil and Chevron. “The majors bring scale, steady capital investment and science to the play,” the U.S. bank said, adding that this could lead to a higher growth trajectory and cap the upside oil prices.

Due to weak US occupation report and rising output, INE crude oil futures price decreased this week and closed at 437.0 RMB/barrel ($65.01 per barrel) on Friday, down by 2.7% WoW. It settled at 440.2 RMB/barrel.

China Iron Ore Futures Weekly Report

This weekly report is provided by Huatai Financial USA on Friday afternoon, Chicago time. The data sources are DCE, SGX, and various news sources.

*Note: 1. Volume, Open Interest and turnover include buy and sell (double-side counted); 2. Volume and Open Interest are measured in lots; 3. Turnover (notional value) is measured in 1,000,000 RMB; 4. Price is daily/weekly last trading price.

Weekly Volume, Open Interest, and Turnover

11,392,322 lots of Dalian iron ore futures were traded during 3/4/2019 - 3/8/2019, and the weekly turnover (notional value) was 702,201,000,000 RMB, approximately $104.47 billion. The average daily trading volume for the current week was 2,278,464 lots/day.

Historical Price (front-month contract price)

Uncertainty hangs over the demand outlook for ferrous metals in top consumer China amid concerns about softer domestic demand and a trade war with the United States. “We think that although a trade deal looks quite likely, the final product may not be as robust as the markets are expecting,” said analyst Edward Meir of INTL FCStone Financial. “Metals in particular also have to grapple with figuring out which direction Chinas government wants to take the economy,” he said.

However, other steel-making raw materials were lower, with coking coal down 1.9 percent at 2,035 yuan a tonne while coke fell 1.4 percent to 1,253 yuan. “The market has become jittery again while waiting for the conclusion of the trade talks,” said analyst Helen Lau of Argonaut Securities. “Some of the gains that we‘ve seen this year were driven by progress in the trade talks but there’s still uncertainty there, so now were seeing some profit-taking,” she said.

Therefore, DCE iron ore futures price moved constantly this week closed at 613.0 RMB/ton ($92.01 per ton), down by 2.0% WoW. It settled at 616.5 RMB/ton.

China PTA Futures Weekly Report

This weekly report is provided by Huatai Financial USA on Friday afternoon, Chicago time. The data sources are ZCE, and various news sources.

*Note: 1. Volume, Open Interest and turnover include buy and sell (double-side counted); 2. Volume and Open Interest are measured in lots; 3. Turnover (notional value) is measured in 1,000,000 RMB.

15,250,984 lots of ZCE PTA futures were traded during 3/4/2019 to 3/8/2019, and the weekly turnover (notional value) was 506,046,000,000 RMB, approximately $75.28 billion. The average daily trading volume for the current week was 3,050,197 lots/day.

The weekly volume and open interest both increased significantly this week by 33% and 14%, according to the data from ZCE.

Other New

China stocks hit highest levels since June on reports U.S.-China trade deal draws closer

Asian stocks climbed Monday, with China stocks hitting their best level in nine months, after news reports said Washington and Beijing are close to reaching an agreement as early as this month to end their costly tariff war. (Source: Market Watch)

Chinas AMAC Proposes Stricter Rules for Private Funds – Report

Private equity, venture capital and hedge fund managers are facing more stringent requirements to register a product with the Asset Management Association of China. (Source: Regulation Asia)

China tightens rules on wealth management, boosting prospects for foreign bank

Chinas efforts to tighten oversight of its $20 trillion-plus wealth management industry are spurring foreign banks to speed up plans to enter the local market or expand there, six people involved in the discussions said. (Source: Reuters)

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About Us：Huatai Financial USA, Inc. (Huatai USA) headquartered in Chicago was formed in 2015 as an affiliate of Huatai Futures Co., Ltd. Huatai USA has been approved by the Chinese Securities Regulatory Commission (CSRC) to offer derivatives brokerage services in the US, is a registered Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC), and is a member of the National Futures Association (NFA).

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