Cable raw materials (rubber) weekly report (1.15-1.19)

1.
Macroeconomic news

1.
US industrial output in December was 0.
9% m/m, 0.
5% expected, and the previous reading of 0.
2% was revised to -0.
1%.

US manufacturing output 0.
1% m/m in December vs 0.
3% expected and revised to 0.
3% from 0.
2%
prior.
US device usage in December was 77.
9% vs 77.
4% expected and revised to 77.
2%
from 77.
1% in the previous month.
U.
S
.
industrial output rebounded from flat expectations in December, reflecting optimism about the health of the economy.

2.
Eurozone's unseasonally adjusted current account in November was +37.
8 billion euros, and the previous value was revised from +35.
9 billion euros to +35.
4 billion euros
.
Eurozone's November quarterly current account +€32.
5 billion was revised from +€30.
8 billion to +€30.
3 billion
.
Eurozone December CPI year-on-year final 1.
4% vs 1.
4% expected and preliminary 1.
5%.

Core CPI was 0.
9% y/y final versus 0.
9% expected, and preliminary 0.
9%.

CPI 0.
4% m/m vs 0.
4% expected vs.
0.
1%
prior.
Eurozone seasonally adjusted trade balance +€22.
5 billion in November vs.
+€22.
3 billion expected vs.
+€19 billion prior
.
Eurozone unseasonally adjusted trade balance +€26.
3 billion in November vs.
+€18.
9 billion
in the previous month.

3.
GDP for the whole year of 2017 was 6.
9% year-on-year, slightly higher than market expectations
.
GDP growth in the primary and tertiary industries was higher than in the third quarter, compensating for the decline
in GDP in the secondary sector.
In December, industrial value added increased by 6.
2%, rebounding by 0.
1 percentage points, mainly due to the sharp rebound in utility growth due to heating season demand
.
However, the suppression effect of environmental protection and production restrictions on industrial production will continue, and industrial production will remain low
.
In terms of consumption, as the "Double 11" rush wave receded, the total consumption of zero social retail goods in December fell by 0.
8 percentage points year-on-year, the lowest level
of the year.

Second, the analysis of natural rubber market trends