China once again exceeded expectations to reduce the RRR and Hulun aluminum volatility mainly rose

News side: 1.
The US existing home sales index in January was -2.
5% month-on-month, the largest decline in more than two years, expected to be 0.
5%, and the previous value of 0.
1% was revised to 0.
9%.

The US existing home sales index for January was -0.
9% year-on-year, 4.
1% expected and 3.
1%
previously.
Eurozone February CPI preliminary -0.
2% y/y vs.
0.
0% expected vs.
0.
3%
prior.
Eurozone core CPI for February came in the preliminary 0.
7% y/y versus 0.
9% expected and 1%
prior.

2.
Starting from March 1, 2016, the RMB deposit reserve ratio of financial institutions will be generally reduced by 0.
5 percentage points to maintain reasonable and sufficient liquidity in the financial system, guide the steady and moderate growth of monetary credit, and create a suitable monetary and financial environment
for supply-side structural reform.

3.
Li Keqiang met with US Treasury Secretary Lu on the 29th, pointing out that China is in the process of economic transformation and the conversion of new and old kinetic energy, and there is still more room for the implementation of active fiscal policies, which will be more powerful
.
We will vigorously promote structural reform, especially supply-side structural reform
.
He also reiterated that the basic stability of the RMB exchange rate at a reasonable and balanced level will be maintained

Today's aluminum price analysis: China once again exceeded expectations to reduce the RRR, but the stimulus to the real economy was limited, mainly maintaining the outflow of debt rotation hedging funds and easing the pressure
on market funds.
More stability for real estate and stock markets means that it is indirectly beneficial to building materials commodities
.
In the short term, Hulun aluminum maintains a standard upward channel, and the shock disk is mainly
rising.
Today's aluminum price is not much changed, just for reference
.