1. [The People's Bank of China: Continue to reduce deposit reserve ratios of deposit-taking financial institutions and implement targeted RRR cuts] Since April 20, the deposit reserve ratio of various deposit-type financial institutions has been lowered by 1 percentage point. For rural financial institutions such as rural credit cooperatives and rural banks, the RMB deposit reserve ratio was reduced by 1 percentage point, and the reserve ratio of rural cooperative banks was uniformly lowered to the level of rural credit cooperatives.
2. The US CPI in March was 0.2%, expected to be 0.3%, and the previous value was 0.2%. The US core CPI in March was 0.2%, expected 0.2%, and the previous value was 0.2%. US March CPI was -0.1% year-on-year, expected to be 0.0%, and the previous value was 0.0%. The US core CPI in March was 1.8% year-on-year, with an expected 1.7% and a previous value of 1.7%.
3. The final value of the CPI in the Eurozone in March was -0.1%, expected to be -0.1%, and the initial value was -0.1%. The Eurozone's core CPI in March was 0.6% year-on-year, with an expected 0.6% and an initial value of 0.6%. The Eurozone's March CPI was 1.1%, expected 1.1%, and the previous value was 0.6%.
4. In China's 70 large and medium-sized cities in March, new commercial housing (excluding affordable housing): 50 cities with a decrease in the price of the ring (the former value of 66), and 12 cities with a rising price (the former value of 2). 8 flat cities (previously 42). The highest increase was 0.7%, and the lowest was 0.9%. Prices in all 70 large and medium-sized cities fell (the previous month was 69 and 1 was flat). The maximum drop was 11.2% with a minimum drop of 0.4%.
Today's aluminum price analysis:
The central bank's RRR cuts exceeded expectations, releasing over one trillion yuan of funds, and subsequent large-scale interest rate cuts are expected. The decline in the real economy has caused the central bank to have more monetary easing policy space, but the willingness of physical loans to be affected by excessive overcapacity is difficult to be equated by the magnitude of waterproofing, and more to the speculative capital of the capital market or market psychology. The fundamentals have not changed significantly, and the market needs time to digest psychologically positive. Short-term Shanghai aluminum futures prices are affected by the collective long-term expectations of the domestic market, and the decline is difficult to sleek down, but the direction remains unchanged. Today's aluminum prices are expected to continue to change little, for reference only.