August 2018 cable raw materials (aluminum) monthly report

Domestic aspects:

In January and July, the total value of China's imports and exports was 2.
6 trillion yuan, the growth rate jumped from 4.
3% in the previous month to 12.
5%, of which the growth rate of exports increased from 3.
1% in the previous month to 6%, and the growth rate of imports increased sharply from 6.
0% in the previous month to 20.
9%.

2.
After implementing net liquidity for five consecutive days, the central bank did not continue to carry out reverse repurchase operations
on August 22.
The central bank said that the gradual fiscal spending near the end of the month can hedge the impact of
factors such as government bond issuance and payment.

3.
China's official manufacturing PMI for August was 51.
3%, 51% expected, and 51.
2%
in the previous month.
China's official non-manufacturing PMI for August was 54.
2% vs 53.
8% expected vs.
54%
prior.

Foreign aspects:

1.
With the resumption of sanctions against Iran by the US government, the global energy market and business map are facing the risk
of severe shocks.
In order to reduce the economic losses caused by sanctions, Iranian officials released a signal on the 8th, calling on the Organization of the Petroleum Exporting Countries to adjust production
.

2.
The hearings on tariffs on $200 billion of China's products are in full swing in Washington, the capital of the United States, and the protests of representatives of the US industry have risen
one after another.
However, the hearings, which were aimed at "listening to public opinion", were accused of merely going through the motions
.

3.
The Fed may see the US inflation rate begin to rise, which is the scenario
it has always wanted.
This could also provide some support to the market, where the Fed is seriously considering two more rate hikes this year and multiple in 2019
.