April 2018 cable raw materials (copper) monthly report

Domestically,

1.
On April 10, the President of China attended the opening ceremony of the Boao Forum and delivered a keynote speech, announcing new measures for reform and opening up, including a considerable reduction in automobile import tariffs this year and the re-establishment of the State Intellectual Property Office
.
Unleash goodwill
between China and the United States trade.
The US trade delegation will also visit China on May 3 and 4, looking forward to positive developments
in the trade negotiations.

The GDP data and PMI data released in February and April were also in line with expectations, and the National Bureau of Statistics released China's GDP data in the first quarter, with a year-on-year GDP growth of 6.
8% in the first quarter, the same as the growth rate in the fourth quarter of 2017, in line with market expectations
.
China's official manufacturing PMI for April, released at the end of the month, was slightly higher than the expected 51.
30% at 51.
30%, indicating that China's economy is stable and improving
.

3.
The Ministry of Commerce is actively studying relevant policies and measures
to expand imports in conjunction with relevant departments.
We will continue to further reduce the overall tax rate of imported goods, reduce import tariffs on automobiles and some daily consumer goods, strive to increase the import of characteristic and advantageous products where the people's demand is relatively concentrated, and introduce trade facilitation-related measures
.

Abroad,

1.
U.
S.
sanctions against ZTE, on April 16, the U.
S.
Department of Commerce announced that it would ban U.
S.
companies from selling parts, goods, software and technology to ZTE for 7 years, on the grounds that ZTE violated U.
S
.
sanctions restricting the sale of U.
S.
technology to Iran.

2.
The preliminary Markit manufacturing PMI and new orders index in the United States hit new highs
since December 2014 in April.
Manufacturing led the rally, with factory output at its biggest pace since 15 and service sector growth steady and strong
.
Goldman Sachs kept its first-quarter GDP growth forecast unchanged at 1.
9%.

2.
Analysis of this month's market trend