Cable raw materials (copper) weekly report (8.22-8.26)

Domestically, China has no major news announced
this week.
On Saturday, the year-on-year profit of industrial enterprises above designated size was released in July, further hinting at the current economic trend
in China.
Based on the previously released economic data, the domestic economy is still weak, the market sentiment is pessimistic, and the market must be worried about the consumer demand of China's copper market and exert downward pressure
on copper prices.

Abroad, new home sales in the United States were better than expected in July, increasing by 12.
4% month-on-month, far exceeding expectations of a 2% decline; The annualized number of existing home sales in July was slightly weaker-than-expected, with low inventories as the main reason, but further increases in home prices indicate that the US housing market remains solid
.
Economic data released this week are all preparing for the Fed's year-end rate hike, which is less likely to be in September
.
At present, the sentiment of both bulls and bears is cautious, and the narrowing of dollar volatility will still affect the trend
of copper futures.