Cable raw materials (rubber) weekly report (3.20-3.24)

1.
Macroeconomic news

1.
The US PPI rose 2.
2% y/y in February, better than the market's forecast of 1.
9% growth, and 1.
6% growth in January; The m/m was up 0.
3%, compared with market expectations of 0.
1% growth and up 0.
6%
in January.
The US core PPI rose 1.
5% y/y in February, in line with market expectations, and rose 1.
2% in January; The monthly rate rose 0.
3%, better than the market forecast of 0.
2%, which rose 0.
4%
in January.

2.
The French National Institute of Statistics (INSEE) said that France's economic growth in the second quarter of this year will be stronger than expected, and the overall euro area economic growth expected is in line with expectations, after the previous three years of poor economic growth, lagging behind the overall performance of the euro area
.
INSEE raised its forecast for second-quarter gross domestic product growth to 0.
5 percent, compared with 0.
4 percent
in December.
It also maintained its first-quarter GDP growth forecast at 0.
3%.

3.
Affected by tail factors, the year-on-year growth rate of CPI in February fell back to 0.
8%, far lower than market expectations
.
At the same time, the PPI rose 7.
8% year-on-year, setting a new growth rate
in recent years.
Market participants expect that with the decline of tail factors and the weakening of the impact of the Spring Festival dislocation, the CPI growth will rebound in the future, while the year-on-year increase in PPI may remain high, and it is expected to peak and fall
after the second quarter.

Second, the analysis of natural rubber market trends