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Cable raw materials (aluminum) weekly report (3.6-3.10)

 Last Update: 2022-12-04
 Source: Internet
 Author: User

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First, macroeconomics

Domestically: China's CPI fell to 0.
8% in February, the lowest growth rate since January 2015, according to the National Bureau of Statistics, but the PPI rose again
.
China's February CPI unexpectedly fell to 0.
8% year-on-year, the slowest pace since January 2015 and far below expectations of 1.
7% and the previous reading of 2.
5%.

At the same time, the PPI rose again in February, at 7.
8% year-on-year, the highest since September 2008, with expectations of 7.
7% and 6.
9%
in the previous month.
The Bureau of Statistics interpreted the data that the slight decrease in CPI month-on-month was mainly due to a significant decline in food prices and a decrease in the number of tourists traveling after the holiday; The year-on-year increase was mainly affected
by changes in tail factors.
The core CPI basically continued last year's modest upward trend
.
The expansion of PPI gains was mainly affected
by the sharp decline in prices in February last year.

Internationally: Eurozone bond yields climbed on Wednesday (March 8) on better-than-expected US private employment data, which further increased the likelihood of a rate hike by the Federal Reserve at next
week's monetary policy meeting.
Eurozone yields rose across the board, led by Spanish 10-year yields, up 10 basis points to their highest 1.
83%
since June.
Most other eurozone government bond yields rose by 5-9 basis points
.
The ADP National Private Employment Report showed on Wednesday that private jobs rose by 298,000 last month, well above analysts' expectations of 190,000, and the number of new private jobs in January was revised upwards to 261,000 from 246,000
previously.
The data drove U.
S.
Treasury yields stronger
.

2.
Analysis of this month's market trend

Second, this month's market trend analysis

(i) Market analysis

Analysis of key products of cable raw materials (aluminum): According to cable network monitoring data, the domestic aluminum price trend this week is weak, and the overall transaction center has shifted
slightly downward.
Represented by the Yangtze River nonferrous spot market, the price of A00 aluminum ingots at the beginning of the week was 13,600 yuan / ton, and the price on Friday was 13,520 yuan / ton, down 80 yuan, or 0.
59%.

Cable raw materials (aluminum)

Macro: Abroad, the US February non-farm payrolls data released, as the most important economic data indicator before the Fed's March interest rate meeting, the ultra-beautiful employment rate shows that the US economy is performing well, paving the way for the Fed to raise interest rates next week, the US dollar rebounded strongly, putting pressure on the base metal trend, before the opening of the Fed meeting next Tuesday, the market risk aversion heated up, the US dollar still maintained high expectations, aluminum prices still face pressure
from the US dollar 。 Domestically, the Chinese government revised down this year's GDP growth index to 6.
5%, while other major economic indicators have also been lowered, commodity prices are under pressure overall, non-ferrous metals are under obvious pressure, and aluminum prices are generally weak
.

Market: In March, downstream orders in various sectors rebounded significantly, processing enterprises' replenishment demand gradually picked up, coupled with a sharp decline in aluminum prices, and the downstream active buying near the spot price of 13,500 yuan / ton increased significantly
.
This week's spot trading is better than the previous week, the early week plunge made the downstream cautious, but as the spot price stabilized at 13400-13500 yuan / ton, the market began to become active in the second half of the week, as the peak season approached, while the futures market faced delivery, holders shipped sharply, and downstream also replenished the dip
.
On the last trading day of the week, the overall shipment of the market is still good, the downstream continues to bargain replenishment, the market trading situation also maintained a good trend, in the afternoon with the aluminum market price soared, due to the previous days to receive more goods, the downstream again waited and see, but traders followed the trend of the water shipment
.

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