November 2017 cable raw materials (copper) monthly report

Domestic aspects:

1.
The profit of China's industrial enterprises above designated size in October recorded 25.
1% year-on-year, down 1.
4 percentage points from 27.
7% in the previous month, and the data fell to show that the domestic industrial expansion momentum has weakened, and the pace of enterprise transformation and upgrading needs to be further accelerated
.

2.
China's Caixin manufacturing PMI fell to 50.
8 in November, down 0.
2 percentage points from 51.
0% in the previous month and hitting a five-month low, as sluggish data weighed on market optimism about the economy next year
.

3.
China's official manufacturing PMI in November was 51.
8, up 0.
2 percentage points from the previous month, and the manufacturing industry continued to maintain a steady and rising development trend
.
The official non-manufacturing PMI in November was 54.
8, up 0.
5 percentage points from the previous month, continuing to be in the expansion range, and the non-manufacturing industry continued its steady and rapid growth trend, and the growth rate accelerated
.

International aspects:

1.
The annualized data on the total number of new home sales in the United States rose further in October, now hitting the highest level since January 2007, and the strong growth in demand for new homes and the beginning of shrinking inventories indicate that Americans are more optimistic about
the economic outlook.

2.
As the growth of business investment in inventories and equipment offset the moderate impact of personal consumption expenditures, the US real GDP growth rate recorded 3.
3% in the third quarter to a three-year high, and the bright GDP performance in the third quarter implied a strong
pace of US economic recovery.

3.
The unemployment rate in the euro area was 8.
8% in October, the lowest since January 2009, and it was expected to be 8.
9%, compared with 8.
9%
in the previous month.
Eurozone November CPI 1.
5% year-on-year preliminary 1.
5%, 1.
6% expected, 1.
4%
prior.
Eurozone core CPI for November came in at 0.
9% y/y versus 1% expected and 0.
9%
prior.
The Eurozone manufacturing PMI final reading for November was 60.
1, the highest since April 2000, 60.
0 expected, 60.
0 preliminary and 58.
5
in October.