Cable raw materials (rubber) weekly report (3.5-3.9)

First, macroeconomics

1.
The ISM non-manufacturing index in the United States was 59.
5 in February, higher than the expected 59, close to a 10-year high, and the previous value was 59.
9
.
Although the employment index in the sub-indicator recorded the largest monthly decline since 2014, it was still basically the same as the same period last year, and the stock and increment of orders also showed double growth, indicating that the market demand for non-manufacturing industries remained strong
.

2.
The Eurozone manufacturing purchasing managers' index (PMI) fell to 58.
6 in February, slightly better than the previous preliminary reading of 58.
5, but down significantly from the final January value of 59.
6
.
The manufacturing PMI fell the most in two years in February, underscored by a slowdown in export orders in the region
.
Country-by-country data also showed that manufacturing PMIs in the two major economies of Germany and France also fell in February from the previous month, indicating a slowdown
in manufacturing expansion.

In March and February, Caixin China's manufacturing purchasing managers' index (PMI) was 51.
6%, up 0.
1 percentage points from January, better than market expectations, indicating that corporate production and business activities continued to improve
slightly.
It is worth mentioning that this trend is slightly different from the manufacturing PMI of the National Bureau of Statistics, which previously announced that the manufacturing PMI in February was 50.
3%, down 1 percentage point
from January.
The manufacturing boom in February rose slightly from the previous month, indicating that China's economic resilience has continued, and looking forward, the recovery of demand in the March start season is crucial
to judging the overall economic trend this year.

Second, the analysis of natural rubber market trends