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Cable raw materials (aluminum) weekly report (5.1-5.5)

 Last Update: 2022-12-05
 Source: Internet
 Author: User

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First, macroeconomics

Domestic: According to the website of the Ministry of Finance on May 3, Shi Yaobin, vice minister of finance and head of the PPP Leading Group, recently presided over the first meeting
of the PPP Leading Group in 2017.
The meeting pointed out that in the first quarter of this year, PPP still maintained a good trend of accelerating project implementation, with a net increase of 28%
in landing projects.
The meeting held that positive results
have been achieved in the past three years since the PPP reform has been promoted.
In particular, in 2016, the number and scale of PPP projects increased by more than four times compared with 2015, the coverage of regions and industries was further expanded, the participation of private enterprises increased steadily, and the development environment continued to improve
.

Internationally: The U.
S.
trade deficit narrowed slightly in March, better than expected and the lowest since
October, as imports fell more than exports.
According to the U.
S.
Department of Commerce, the U.
S.
trade deficit in March was $43.
7 billion, compared with an expected deficit of $44.
5 billion and a deficit of $43.
8 billion in the previous (revised) month
.
Both imports and exports declined
in March compared to February.
U.
S.
exports of goods and services slipped 0.
9% (about $1.
7 billion) to $191 billion in March, with merchandise exports falling by $2.
1 billion and services exports increasing by $400 million; U.
S.
imports of goods and services fell 0.
7 percent to $234.
7 billion in March, with imports of goods falling by $1.
7 billion and imports of services falling by less than $10 million
.

2.
Analysis of this month's market trend

Second, this month's market trend analysis

(i) Market analysis

Analysis of key products of cable raw materials (aluminum): This week, domestic aluminum prices first fell and then rose, and prices fell sharply at the beginning of the week, and then gradually stabilized, recovering some of the
declines.
Represented by the Yangtze River nonferrous spot market, according to the monitoring data of the cable network, the price of A00 aluminum ingots at the beginning of the week (May 2) was 13940 yuan / ton, and the price on Friday was 13860 yuan / ton, down 80 yuan, or 0.
57%.

Cable raw materials (aluminum)

Macro: The market was closed on Monday due to the May Day holiday, and the first day after the holiday was due to market rumors to restart electrolytic aluminum production capacity, as well as the black series fell heavily, bearish aluminum prices, and Shanghai aluminum fell
with it.
Since then, the market has rumored that Shandong has violated production capacity rectification, coupled with China's recent measures to combat environmental pollution, the market expects aluminum output to decline, and the aluminum market has stabilized and rebounded, competing for around 14,000 yuan
.
The latest data released shows that China's official manufacturing PMI in April was lower than expected, the US economic growth slowed down in the first quarter, domestic and foreign economic data performed poorly, the market atmosphere was empty, and aluminum prices lacked good news support, and the short-term trend is expected to be slightly weak, but the support below still exists, and the downside is also limited
.

Market: At the beginning of this week, aluminum prices fell sharply, holders from premium to large discount shipments, demand is mainly bulk goods, trading light, starting on Wednesday, as aluminum prices stabilize at a low level, spot traders diverge on the future market, traders are actively trading, downstream also increase replenishment, futures spot price spread narrowed, Thursday spot prices fell slightly, due to the near weekend, downstream post-holiday low replenishment demand increased, holders bullish aluminum market, selling psychology gradually rising, market sources tightened, but trading remained active, The huge shock in aluminum prices at the end of the day made the market turn to the sidelines
again.
On Friday, aluminum prices regained their rally, morning trading showed an active trend, holders shipped positively, downstream stocking demand once again appeared, prices are also dominated by premium shipments, market transactions are ideal, prices before noon slightly lower, holders small discount shipments
.

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