July 2016 cable raw materials (copper) monthly report

China: In the first half of the year, China's economic operation was generally stable, steady and progressive, the economic growth rate was in a reasonable range, and the price and employment situation remained stable
.
After the Brexit referendum, the external environment facing China's economic operation has become more complicated
.
The Chinese government maintains the stability and continuity of macroeconomic policies, while focusing on supply-side structural reforms, which is also the only way
to solve structural problems such as excess capacity.
Overall, China faces daunting short-term challenges, risks to the economy, and a weak recovery
in the throes of structural reforms.

Europe and the United States: The release of US economic data in July was beautiful, providing reasons
for the Fed to raise interest rates again.
In particular, the June non-farm payrolls data released in early July was much higher than market expectations, indicating that the labor market continued, and the weakness of the May employment data was only a "temporary phenomenon", which greatly eased market concerns
.
The uncertainty brought about by Brexit to the global economy is still there, but the market has recently digested the impact and worries have subsided
.
The UK PMI fell to 47.
7 in July, the lowest level since April 2009, data showed that both manufacturing and services activity in the UK were weakening, but exports increased
due to the depreciation of the pound.