Cable raw materials (copper) weekly report (3.14-3.18)

1.
Data released by the US Department of Labor (DOL) showed that the US import price index fell by 0.
3% m/m in February, down 0.
6% expected, and down 1.
0%
in the previous month.
The data also showed that the US import price index fell 6.
1% y/y in February, the smallest year-on-year decline since December 2014
.
Weak import prices are one of the reasons why inflation remains below the Federal Reserve's 2% target, down 6.
5% expected and 6.
3%
in the previous month.

2.
The Philadelphia Fed released a report that the manufacturing activity index in its jurisdiction hit the highest since June 2015 in March, showing a strong momentum in the manufacturing industry
.
Data showed that the Philadelphia Fed manufacturing index rose to +12.
4 in February, much better than the forecast of -1.
7, and -2.
8
in February.

3.
After announcing three major interest rate cuts last week, the ECB president dismissed market expectations
of further rate cuts.
Draghi said at a press conference that the ECB did not see any need for further rate cuts and, based on its current assessment, did not see the need for more rate
cuts.

4.
The data shows that the growth rate of China's real estate investment has rebounded for the first time in two years, and has driven the overall investment growth rate to rebound
.
From January to February, the growth rate of real estate development investment nationwide increased by 2 percentage points from the end of last year to 3%, which is the first time that the data has rebounded
in two years.
During the same period, the sales area of commercial housing increased by 28.
2% year-on-year, and sales soared by 43.
6%.

5.
Statistics show that China's industrial production growth rate has fallen to a more than seven-year low, and consumption growth has also fallen to a nine-month low
.
From January to February, the year-on-year growth rate of industrial added value fell by 0.
5 percentage points from 5.
9% last year to 5.
4%, while consumption fell 0.
9 percentage points from the previous month to 10.
2%.