July 2018 cable raw materials (aluminum) monthly report

Domestic aspects:

1.
China's official manufacturing PMI for July 51.
2, 51.
3 expected, 51.
5
prior.
China's official non-manufacturing PMI for July was 54.
9 expected vs 55
prior.
China's official composite PMI for July was 53.
6 vs 54.
4
previously.
China's July Caixin manufacturing PMI 50.
8 vs 50.
9 expected vs 51
prior.

2.
According to the national consumer price index (CPI) and industrial producer price index (PPI) data released by the National Bureau of Statistics in June 2018, the CPI decreased by 0.
1% month-on-month and increased by 1.
9% year-on-year; PPI rose 0.
3% month-on-month and 4.
7%
year-on-year.
The year-on-year increase in CPI in June remained at the "1 era", and the agency predicted that prices would remain low in the second half of the year
.

3.
According to data from the Bureau of Statistics, from January to June, the total profit of industrial enterprises above designated size in the country was 3.
38821 billion yuan, an increase of 17.
2% year-on-year, and the growth rate was 0.
7 percentage points
faster than that from January to May.
From January to June, the mining industry achieved a total profit of 285.
39 billion yuan, a year-on-year increase of 47.
9%; The total profit of the manufacturing industry reached 2.
88005 billion yuan, an increase of 14.
3%; The total profit of electricity, heat, gas and water production and supply amounted to MOP222.
77 billion, up by 25.
3%.

In June, industrial enterprises above designated size achieved a total profit of 658.
29 billion yuan, a year-on-year increase of 20%, and the growth rate was 1.
1 percentage points
slower than that in May.

Foreign aspects:

1.
The annualized quarterly preliminary value of real GDP in the United States in the second quarter was 4.
1%, the highest growth rate since the third quarter of 2014, expected to be 4.
2%, and the previous value was revised from 2% to 2.
2%.

U.
S.
personal consumption expenditures (PCE) in the second quarter were 4% annualized quarter-on-quarter versus 3% expected, and the previous reading was revised from 0.
9% to 0.
5%.

U.
S.
core personal consumption expenditures (PCE) for the second quarter were 2% annualized quarter-on-quarter and 2.
2% expected, revised to 2.
2% from 2.
3%
in the previous month.
The US GDP deflator for the second quarter was 3% annualized and 2.
3% expected, and the previous value was revised from 2.
2% to 2.
0%.

2.
The number of non-farm payrolls in the United States increased by 157,000 in July, compared with an expected 193,000
.
Revised from +213,000 to +248,000 in June and +268,000
in May.
The combined number of new non-farm payrolls in the United States in May and June was revised upwards by 59,000.

3.
Eurozone GDP in the second quarter was 0.
3% quarter-on-quarter, the lowest growth rate since the third quarter of 2016, expected to be 0.
4%, and the previous value was 0.
4%.

Eurozone Q2 GDP was 2.
1% year-on-year preliminary vs.
2.
2% expected and 2.
5%
prior.