Cable raw materials (aluminum) weekly report (3.21-3.25)

1.
China: The added value of China's industries above designated size in January-February was 5.
4% year-on-year, the worst performance since 2009; Expectations were 5.
6 percent, compared to 6.
1 percent
for all of last year.
From January to February, the power generation was 870.
2 billion kWh, a year-on-year increase of 0.
3%; It declined 0.
2%
for the full year last year.
Among the 70 large and medium-sized cities in China in February, new commercial housing (excluding affordable housing) rose by 47 (38 in the previous month), decreased by 15 (24 in the previous month), and remained unchanged by 8 (8 in the previous month).

Year-on-year prices rose by 32 (prior: 25), decreased by 37 (prior: 45), and remained flat by 1.

Among the month-on-month price changes, the highest increase was 3.
6% (Shenzhen) and the lowest was a decrease of 0.
7%.

Among the year-on-year price changes, the highest increase was 57.
8% (Shenzhen) and the lowest was a decrease of 3.
9%.

2.
Europe: Eurozone CPI 0.
2% m/m in February vs 0.
1% expected vs.
-1.
4%
prior.
Eurozone February CPI year-on-year final -0.
2%, expected -0.
2%, preliminary -0.
2%.

Eurozone February core CPI year-on-year final 0.
8%, 0.
7% expected, preliminary 0.
7%.

3.
US: The US Markit composite PMI for March was 51.
1 preliminary vs 50
previously.
The number of initial jobless claims in the United States in the week of March 19 was 265,000, compared with 269,000 expected, and the previous value of 265,000 was revised to 259,000
.
The number of renewed jobless claims in the United States for the week of March 12 was 2.
179 million, compared with 2.
235 million expected, and the previous value of 2.
235 million was revised to 2.
218 million
.
The US Markit services PMI for March was 51 preliminary vs 51.
4 expected and 49.
7
previously.
Chicago Fed President Evans expects US GDP to grow by 2.
0-2.
5%
in 2016.
Economic and financial risks in 2016 were somewhat higher than previously expected
.
The March FOMC's interest rate expectations are a "pretty good backdrop"
.