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First, macroeconomics
First, macroeconomicsInternational: In the early hours of Thursday morning, the Fed raised interest rates by 25 basis points as scheduled, the second time the Fed raised interest rates in three months, but it was not as hawkish as the market expected, Yellen said that the pace of future rate hikes will be gradual
.
Fed officials expect two more rate hikes this year and three
more next year.
The US housing starts were revised to -1.
9% in January from -2.
6%, and the February housing starts were 3.
0% m/m vs.
-2.
6% in the previous month and 1.
4% in the forecast; The number of initial jobless claims in the United States was 241,000 last week, compared with 243,000 in the previous month and 242,000 in the previous month, and the previous value of renewed jobless claims last week was revised from 2.
058 million to 2.
06 million; the US producer price index in February was 2.
2% y/y, compared with 1.
6% in the previous value and 1.
9% in the forecast, the largest increase since March 2012
.
Domestically: The Bureau of Statistics reported that the annual rate of added value of industries above designated size in February this year was 6.
3%; The national real estate development investment was 985.
4 billion yuan, a year-on-year increase of 8.
9%; residential investment increased by 9.
0%; The newly started area of housing was 172.
38 million square meters, a year-on-year increase of 10.
4%; The national commercial housing sales area was 140.
54 million square meters, a year-on-year increase of 25.
1%.
The growth rate of investment in the real estate market has accelerated, hitting a new high
in the past two years.
The Bureau of Statistics also pointed out that China's main economic indicators rose moderately, the development trend continued to improve, and the overall operation continued the steady and good trend
since the second half of last year.
Second, this week's market trend analysis
Second, this week's market trend analysis(i) Market analysis
(i) Market analysis
Analysis of key products of cable raw materials (copper): This week (March 13-March 17), domestic copper prices rose slightly, and the overall price center of gravity moved
slightly upward.
Taking the Yangtze River spot market as an example, according to cable network monitoring data, the average copper price at the beginning of the week was 46,670 yuan / ton, and the average copper price on Friday was 47,600 yuan / ton, up 930 yuan / ton, an increase of about
1.
99%.
Macro aspects: The biggest macro event of the week is the Fed meeting
.
The Fed raised interest rates by 25 basis points, but the March rate hike was already expected by the market, and after the announcement of the decision, Fed Chair Yellen did not give any hints of tightening in the future, disappointing some investors, the dollar index fell nearly 1% during the week, hitting a two-month low at the low, and the US index fell back to boost copper prices
.
Domestically, the macro data released on Tuesday for February was slightly poor, and the total retail sales of consumer goods were dragged down by automobile consumption to stall, and whether the domestic economy will usher in an inflection point in the second quarter still needs attention
.
Market: At the beginning of this week, the rebound in futures prices made the price of good copper rise for a while, but the downstream countries almost did not make purchases, and continued to stay on the sidelines, which remained until after the delivery date, and on Thursday as the copper spot price spread widened again, the low-priced copper business improved, and the market shipments also improved, and traders bought good copper and wet copper
at the bottom.
This week, suppliers are more willing to ship, but due to the soaring price, the downstream fear of heights is high, and it is difficult to sell
.
On the last trading day of the week, market traders purchase warehouse receipts in small quantities, and downstream continues to purchase on demand to process a small amount of warehouse
storage on weekends.
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