The LME is the world's largest copper futures market, founded in 1876, and trades non-ferrous metals such as copper, aluminum, lead, zinc, nickel and aluminum alloys.

With more than 100 years of accumulation, this exchange has a high reputation in the world, and the hundreds of billions of dollars in copper futures positions give it a strong financial pricing power over global copper prices.

That's right, it's financial pricing power.

In modern economic theory, the main factor that determines the price of commodity resources is the relationship between supply and demand, but with the continuous progress of information technology, the scale of forward market contracts is also expanding, telephone, computer and fax report, in the rapid development of the electronic zerg, the inherent logic of supply and demand has long been unable to tell the real price variable relationship.

In this regard, Hamanaka is well aware that as the chief dealer of Sumitomo Retail's non-ferrous metals division, the size of his $6 billion position in London copper once affected the price of global copper resources.

LME CA3M， 2361.08，-1.26%。

Sumitomo Corporation, Nonferrous Metals Trading Division, London.

Yasuo Hamanaka looked at the quotation of London copper March on the central computer and fell into deep thought.

As Asia's largest copper exporter, Sumitomo is a natural bear, because when copper prices are profitable, as long as a corresponding sell position is established on copper futures, it can avoid the unpredictable systemic risk fluctuations of copper prices and lock in a certain amount of risk.

However, there is a great paradox in that when risk is locked, profits are also locked in a fixed space.

If the price of copper falls to an extremely downloadable space, then profits will be locked in even narrower.

In a week's time, the price of London copper fell by another 5 percent, and in the long run, the low price may not even be able to hedge Sumitomo's share of spot sales of major global copper companies.

"Yoshino-kun. What do you think Capital One is for?"

Picking up a cigarette and lighting it, Yasuo Hamanaka turned his gaze to his assistant Yoshinoyamashita, and the highly experienced analyst couldn't help but frown.

Logically speaking, with Capital One's influence in Europe, there is no need to cooperate with Sumitomo, but the actual controller of Capital One has found Sumitomo.

Will the big rooster still greet the weasel?

I can think of it with my ass, and there is definitely a lot of greasy in this.

"Your Excellency. Although the Chinese people have a lot of land and resources, they are extremely poor in mineral resources, and the taste of copper ore and iron ore is very low, perhaps, they want to cooperate with us to suppress the price of copper, so as to buy more resources. ”

"That doesn't make sense. As far as I know, Shen has a very close relationship with polar bears. ”

"Could it be that they just want to make a fortune in the futures market?"

“......”

This question made a hint of sarcasm flash in Hamanaka's eyes, Sumitomo holds the world's largest copper futures position, but no one wants to make a profit. The Great Saying Empire is not a waste like the British, who is still trying to make money when he is pressed to the ground and rubbed.

"Yoshino-kun. Whatever they're trying to do, I think it's an opportunity, and how can we make money without more positions joining. You say yes or no. ”

"But we have an agreement with Capital One. ”

"So what. Whoever has the big fist in this world has the final say, not to mention, everything is just a verbal agreement. ”

"What do you mean?"

"There is a very famous idiom in Huaxia, which is called charging into battle. But when I read the Romance of the Three Kingdoms, I learned that trapping is actually a tactic, a tactic of encircling and destroying the enemy. ”

Yoshino Yamashita doesn't know how Yasuo Hamanaka got involved in the Three Kingdoms in a good way, and as a loyal arcade fan, he reflexively thought of the favorite Three Kingdoms.

"Adults also play the Three Kingdoms of the Glorious Company, I can hit Lu Bu with one coin. ”

“......”

The style of painting changed abruptly, and Yasuo Hamanaka looked at Yoshinoyama's excited look, and was so angry that he almost choked on the smoke.

"Bagayalou, you idiot who doesn't learn anything. I'm talking about tactics, not games. ”

“......”

Didn't I just ask, what is the fierce?

Yoshino Yamashita looked at Yasuo Hamanaka a little aggrieved, the trading industry is too boring, isn't he just raising an interest to disperse pressure.

"Shen Jiannan is right about one thing, the financial crisis that is happening in Europe is an opportunity for us. If the global price of copper plummets as a result, we can buy more copper companies. ”

What does this have to do with what you said about the Three Kingdoms?

Yoshino Yamashita didn't dare to speak, but he couldn't help but scold a few words.

"The subordinates are reckless, please give me advice. ”

Yoshino's respectful attitude made Yasuo Hamanaka's heart swell with infinite pride, and he stood up and walked to the glass curtain wall to look at the sea not far away, and a trace of invincible battle intent flashed in his eyes.

"Since Shen Jiannan wants to take the opportunity to short and make a lot of money, then we can completely snipe out the shorts they hold, and when all their shorts are blown out, it will push the copper price to a new high, which will not make a lot of money. ”

For Hamanaka Taitai's madness and unbeatability, Yoshino Yamashita is not surprised, as a help, he knows very well how hammered the character of this 'hammer' in front of him is.

In order to achieve a long-short double kill to control global copper prices, Hamanaka even asked Schreel CapitaLand, the president of DLT brokerage, to provide him with false trading proofs last year, in order to cover up the size of Sumitomo's actual position on the London Stock Exchange.

It is the goal of everyone in Sumitomo to make Sumitomo the world's strongest seller of non-ferrous metals and restore Sumitomo's dominance in the global copper market in the mid-century.

Feverishly looking at Yasuo Hamanaka standing in front of the window, Yoshino Yamashita heaved and bowed his head respectfully.

"That's what my lord said. So how big should we open a long position? ”

"Stupid. ”

"Hayi!"

"Trapped, trapped. We're going to have to open bigger short positions so that all the bears in the market get in first, your, you know?"

"Hayi!"

"Remember, at the same time to open enough long positions, but be sure not to let people find out about it. ”

"Hayi!"

“......”

You have a good plan, I have a wall ladder.

Yasuo Hamanaka didn't know that when he was calculating the first capital, some people also took him as a prey.

Credibility?

Agreements written in black and white are all pieces of waste paper in the face of interests, not to mention empty reputation.

LME CA3M, 2361.08, Buy 10.

LME CA3M, 2361.08, Sell 11

LME CA3M, 2361.09Buy 11

LME CA3M, 2361.10 sell 9

......

Canary Wharf, Capital One Investments.

Under William's instructions, the traders present abandoned the keyboard in their hands and typed back and forth on the keyboard in boredom.

One will buy, the other will sell.

It took half a morning, and the total account was stunned that there was no profit and loss ratio.

This is nonsense.

The three contracts on the long position have a cumulative holding of 57,989 contracts, and the three contracts on the short position have a cumulative holding of 57,986 contracts, with a spread of only 0.05.

This is very boring for traders.

I was stunned all morning watching the floating profit and loss fluctuations, and I was so bored that I almost fell asleep.

Anyway, no matter how the market fluctuates, there will be no huge profit or loss, and who has the heart to pay attention to what kind of fluctuations the market is.

"Boss. What are we doing this for? God, it's just boring. ”

For what?

Thinking of what Shen Jiannan said, a sense of intellectual superiority arose in William's heart.

But in fact, he didn't know why.

Does it matter?

It doesn't matter at all.

But one thing is for sure, the boss used this tactic of indistinguishing between friend and foe, but he once cheated the Bank of Finland hard, and no matter how much he tried to trick Sumitomo, the result would be very pleasant.

The three words of the defeated country are enough to explain everything.

Bell Bell Bell –

Suddenly, the phone on the desk rang, and William dropped the cigarette butt in his hand and grabbed the phone.

"William, it's me, what's going on over there. ”

"President Lamont had a conversation with me yesterday and he said he would talk to David King, the president of the London Stock Exchange, to try to keep our margin to a minimum. At the moment, we have about 60,000 contracts in long and short positions, and the price of copper has also fallen to around 2361. ”

Hearing that Lamont went to negotiate with the London Stock Exchange for the company's transaction costs, Shen Jiannan still felt relatively satisfied.

Not to mention anything else, even if the money is placed in the bank, there is a fixed income to be earned, and if it is used for lending, the income can be increased several times.

If the London Stock Exchange is able to give a minimum margin, it will mean that the cash flow that Capital One will have to use will be smaller.

The money saved is real money.

Flies are small, but they are also meat.

Isn't it?

It's also that Lamont's bastard didn't get a salary of ten million pounds for nothing.

"Good. But you may have to get busy in two days, two of the newly developed products of Nanbo Bank have been capped, and the money will be handed over to you to operate when it is processed over there. It's time to give the Spencer family a little color. ”