Cable raw materials (copper) weekly report (7.4-7.8)

In China, although the Caixin services PMI recorded the largest growth rate since November in June, the Caixin composite PMI fell
from the previous value.
The polarization between manufacturing and services is not good news for copper prices
.
As the manufacturing industry is the most important downstream of consumption in the copper market, the deterioration of data is difficult to offset
by the improvement of the service industry.
Therefore, from the current situation, the demand in the Chinese market cannot give strong support
to copper prices.

Abroad, global financial markets are closely watching the progress of
Brexit.
Brexit is tantamount to making things worse for the global economy, and in order to cope with global economic growth risks and uncertainties, it is expected that major countries in the world will start a new round of monetary easing again
.
The IMF has also publicly called on central banks around the world to be prepared to act to increase liquidity and avoid wild fluctuations
in the global economy.