Cable raw materials (aluminum) weekly report (7.18-7.22)

1.
The central bank regulated, the RMB exchange rate rose 300 basis points in two days The market believes that 6.
7 is the bottom line
of the central bank.
In order to maintain reasonable and sufficient liquidity in the banking system, the central bank combined with the MLF maturity of 218.
5 billion yuan in late July, and the central bank carried out MLF operations on 14 financial institutions with a total of 227 billion yuan, the ninth disguised RRR
reduction this year.
China's urban fixed asset investment from January to June increased by 9% year-on-year, less than expected by 9.
4%, and from January to June, private fixed asset investment continued to decline, only increasing by 2.
8%.

From January to June, the national real estate development investment increased by 6.
1% year-on-year in nominal terms, down 0.
9 percentage points
from January to May.
The message is empty
.

2.
Eurozone preliminary manufacturing PMI for July 51.
9, expected 52, previous value 52.
8
.
Eurozone July services PMI preliminary reading 52.
7 vs 52.
3 expected and 52.
8
prior.
Eurozone July composite PMI flash reading was 52.
9, the lowest since January 2015, 52.
5 expected, 53.
1
prior.

3.
In the United States, new housing starts in June were 1.
189 million, expected to be 1.
166 million, and the previous value of 1.
164 million was revised to 1.
135 million
.
U.
S.
housing starts in June were 4.
8% m/m vs.
0.
2% expected and -
1.
7% prior-0.
3%.
The US construction permit in June was 1.
153 million, expected 1.
15 million, and the previous value was revised from 1.
138 million to 1.
136 million
.
US construction permits in June were 1.
5% m/m vs.
1.
2% expected, and the previous reading was revised to 0.
5%
from 0.
7%.