November 2017 cable raw materials (aluminum) monthly report

Domestic aspects:

1.
China's industrial enterprises above designated size achieved a total profit of 745.
41 billion yuan in October, an increase of 25.
1% year-on-year, although the growth rate was 2.
6 percentage points slower than that in September, but it was still a high monthly growth rate this year; from January to October, the total profit of industrial enterprises above designated size in the country was 6.
24508 billion yuan, an increase of 23.
3% year-on-year, and the growth rate was 0.
5 percentage points
faster than that from January to September.

2.
Bureau of Statistics: While the profits of industrial enterprises maintain rapid growth, the efficiency of enterprises is also continuously improving, and the profit margin continues to rise; Reduced corporate leverage; Coal, steel, chemical, petroleum and other industries added more profits, contributing 51.
2%
to the profit growth of all industrial enterprises above designated size in the first ten months.

3.
Bureau of Statistics: China's official manufacturing PMI in November was 51.
8, up 0.
2 percentage points from the previous month, and the manufacturing industry continued to maintain a steady and rising development trend
.
The official non-manufacturing PMI in November was 54.
8, up 0.
5 percentage points from the previous month, continuing to be in the expansion range, and the non-manufacturing industry continued its steady and rapid growth trend, and the growth rate accelerated
.

Foreign aspects:

1.
Fed Nominee Chairman Powell: The Fed is expected to "raise interest rates further to some extent"; will be "unwaveringly responded" to any new economic threat, requiring "flexibility" in policy making; It will defend the Fed's independence while working to strengthen its accountability
obligations to the public and Congress.

2.
The annualized real GDP of the United States in the third quarter was revised up to 3.
3% quarter-on-quarter, a new three-year high, with an expectation of 3.
2% and a preliminary value of 3%.

U.
S.
personal consumption expenditures in the third quarter were revised 2.
3% annualized quarter-on-quarter, 2.
5% expected, and 2.
4%
preliminary reading.

3.
Wall Street Journal: The U.
S.
economy grew stronger than expected in the third quarter, and corporate profits also rebounded
in the third quarter.
GDP growth was driven by two factors: private inventories and net exports
.
A large number of indicators indicate that the US economy is doing well
as it enters the holiday season.

2.
Analysis of this month's market trend