December 2018 cable raw materials (aluminum) monthly report

Domestic aspects:

1.
Ministry of Finance: The total operating income of China's state-owned enterprises from January to November was 5.
248919 billion yuan, an increase of 10.
6% year-on-year (an increase of 10.
6% from January to October).

The total profit of state-owned enterprises from January to November was 3.
03931 billion yuan, a year-on-year increase of 15.
6% (an increase of 17.
3% from January to October).

2.
The profit of China's industrial enterprises above designated size in November was -1.
8% year-on-year, compared with 3.
6%
in the previous month.
From January to November, the profit of industrial enterprises above designated size was +11.
8% year-on-year, and the increase from January to October was 13.
6%.

3.
The fourth quarter meeting of the Monetary Policy Committee of the People's Bank of China pointed out that it is necessary to continue to pay close attention to the marginal changes in the international and domestic economic and financial situation, enhance the sense of worry, increase the intensity of counter-cyclical adjustment, and improve the forward-looking, flexible and pertinent
nature of monetary policy.
Prudent monetary policy should pay more attention to tightening and moderation, maintain reasonable and sufficient liquidity, and maintain a reasonable growth
in the scale of monetary credit and social financing.
Comprehensively use a variety of monetary policy tools to maintain the basic stability of the RMB exchange rate at a reasonable and balanced level, maintain a balance between interest rates, exchange rates and the balance of payments, promote stable and healthy economic development, stabilize market expectations, fight the battle of preventing and resolving financial risks, and guard the bottom line
of not occurring systemic financial risks.

Foreign aspects:

1.
The US existing home sales index in November was -0.
7% month-on-month, 1% expected, and -2.
6%
in the previous month.
The US existing home sales index for November was -7.
7% year-on-year, and the previous value was revised from -4.
6% to -4.
7%.

2.
The number of initial jobless claims in the United States in the week of December 22 was 216,000, compared with an expectation of 216,000, and the previous value of 214,000 was revised to 217,000
.
The number of renewed jobless claims in the United States in the week of December 15 was 1.
701 million, compared with 1.
675 million expected, and the previous value of 1.
688 million was revised to 1.
705 million
.

3.
For the Fed's monetary policy trend in 2019, the current market views are mixed, and some experts believe that the pace of
interest rate hikes may slow down next year.
The market is worried about the negative impact of the Fed's interest rate hike on the economy due to higher interest rates, a slowdown in the US economy, and the shutdown
.