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    Home > Chemicals Industry > New Chemical Materials > Cable raw materials (aluminum) weekly report (11.7-11.11)

    Cable raw materials (aluminum) weekly report (11.7-11.11)

    • Last Update: 2022-12-03
    • Source: Internet
    • Author: User
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    First, macroeconomics

    First, macroeconomics

    1.
    The number of initial jobless claims in the United States in the week of November 5 was 254,000, 260,000 expected, and 265,000
    in the previous month.
    The number of renewed jobless claims in the United States for the week of October 29 was 2.
    041 million, compared with an expectation of 2.
    025 million, and the previous value of 2.
    026 million was revised to 2.
    023 million
    .

    2.
    The final value of the Eurozone service PMI in October was 52.
    8, 53.
    5 expected, 53.
    5 in the preliminary value, and 52.
    2
    in September.
    The Eurozone composite PMI final value for October was 53.
    3, the highest since January, 53.
    7 expected, 53.
    7 preliminary reading, and 52.
    6
    final value in September.

    3.
    China's foreign exchange reserves in October were $3.
    1207 trillion, compared with an expected $3.
    1325 trillion and a previous value of $3.
    1664 trillion
    .
    China's foreign exchange reserves fell by $45.
    7 billion in October from the previous month, the sharpest decline since January and the fourth consecutive month of contraction
    .

    2.
    Analysis of this month's market trend

    Second, this month's market trend analysis

    (i) Market analysis

    (i) Market analysis

    Analysis of key products of cable raw materials (aluminum): According to cable network monitoring data, aluminum prices this week experienced a brief high volatility, began to rise and break through on Wednesday, touched a high on Thursday, hit a new high since June last year, and the overall market was biased
    .
    Represented by the Yangtze River nonferrous spot market, the price of A00 aluminum ingots at the beginning of the week was 14290 yuan / ton, and the price on Friday was 15300 yuan / ton, up 1010 yuan, the overall increase was 7.
    07%.

    Cable raw materials (aluminum)

    Macro: The dust settled in the US election this week, Trump was elected president, the base metals market was collectively shocked, and domestic aluminum prices performed strongly
    .
    Trump's victory speech sent a positive cooperation signal to the market, which is expected to bring increased fiscal spending and economic growth stimulation, and will focus on infrastructure construction, which will benefit the commodity market and base metals rise
    across the board.
    Overall, the surge in commodity prices has driven investor confidence, aluminum prices have hit a four-year high, and the market is enthusiastic about
    longing.

    Market: This week's aluminum spot price broke through 15,000 yuan / ton again after a week of adjustment, and many traders began to raise their expectations for the later spot aluminum price again, the first half of the week was better, and the second half of the week began to spread downstream receivers
    ' fear of heights 。 Xinjiang small-scale automobile transportation and a small amount of imports have increased a small amount of market inventory, but in the current strong technical bull market, the only reason for the market to rise has supported the whole wave of the market, in the short term, although the demand has not increased much, but Xinjiang transportation problems are not solved, a large number of hoarded goods in the northwest can not circulate in the market, it is difficult to affect the current strong market, other varieties are rising too fast, but the subsequent adjustment of the impact on aluminum is temporary
    .

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