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Cable raw materials (aluminum) weekly report (7.10-7.14)

 Last Update: 2022-12-06
 Source: Internet
 Author: User

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First, macroeconomics

Domestically, China's June CPI was 1.
5% year-on-year, 1.
6% expected, and 1.
5%
in the previous month.
China's June CPI fell 0.
2% month-on-month and 0.
1%
in the previous month.
China's June PPI was 5.
5% y/y versus 5.
5% expected and 5.
5%
prior.
China's June PPI fell 0.
2% month-on-month versus 0.
3%
in the previous month.

Abroad, the US CPI in June was 0.
0% month-on-month, 0.
1% expected, and -0.
1%
in the previous month.
The US CPI in June was 1.
6% year-on-year, the lowest since October 2016, and it was expected to be 1.
7% compared with 1.
9%
in the previous month.
US core CPI for June was 0.
1% m/m vs 0.
2% expected and 0.
1%
prior.
US core CPI for June was 1.
7% y/y vs 1.
7% expected and 1.
7%
prior.
US PPI in June was 0.
1% m/m vs 0.
0% expected and 0.
0%
prior.
US PPI in June 2% year-on-year vs 1.
9% expected vs.
2.
4%
prior.
US June core PPI 0.
1% m/m vs 0.
2% expected and 0.
3%
prior.
U.
S.
core PPI for June was 1.
9% y/y vs.
2% expected and 2.
1%
prior.

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, the domestic aluminum price volatility is rising, represented by the Yangtze River nonferrous spot market, according to cable network monitoring data, the price of A00 aluminum ingots at the beginning of the week was 13950 yuan / ton, and the price on Friday was 14210 yuan / ton, up 260 yuan, an increase of 1.
22%.

Considering the weakening of consumption in the off-season and the continuous increase in inventory, the increase in aluminum prices may slow down
.

Cable raw materials (aluminum)

Macro: Abroad, Federal Reserve Chair Yellen said that the Fed will only gradually tighten monetary policy, this statement curbed the Fed's speculation to raise interest rates again this year, the Fed's dovish speech frustrated the dollar index lower, aluminum prices benefited from a strong
trend.
Domestically, affected by the supply-side reform policy of the electrolytic aluminum industry, the production of electrolytic aluminum in Shandong and Xinjiang declined in June to ease the pressure of excess domestic inventory and support the rise
in aluminum prices.

Market: This week continues to be affected by off-season factors, the overall trading situation is general, and the downstream on-demand receiving is the mainstay
.
On Tuesday, the holders began to ship at high prices, and in the afternoon, the enthusiasm of middlemen and downstream receiving goods increased, but mainly delivery warehouse receipts, and on Wednesday, middlemen were once bullish after the market pressed down prices to receive a large number of goods
.
On Friday, aluminum prices jumped sharply to 14,200 yuan / ton, holders shipped positively, with the late afternoon aluminum prices lowered, have been larger than the average price of the Yangtze River shipments, middlemen and downstream demand is sluggish, market transactions are quiet
.
It is expected that spot trading will continue to shrink next week, entering the high temperature off-season, and the proportion of downstream buying will gradually decline
significantly.

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