Major economic indicators in the United States were modestly revised down in February, **slightly**. Sub-data, new orders index 492, the previous value is 525, with the drop of 33；New export orders 516, the previous value was 452, a year-on-year increase of 64；Production index 484, down 2 from the same period, the lowest since July last year; Employment index 459, the previous value was 471, with 12；Inventory indicator 453, with 09。The decline in the main sub-indicators temporarily interrupted the momentum of the U.S. economic recovery, and the Fed's hawkish statement was superimposed, and it was slightly smaller during the week. We judge that *** or still high ** in the short term**.
Industrial metals. The weakening of the US ISM manufacturing PMI index accelerated in February, while the divergence with the Markit manufacturing index increased, indicating that there may be divergent judgments on the direction of the US economy. China's macroeconomic recovery is good, and large-scale equipment renewal and consumer goods trade-in may further promote the recovery of downstream demand for industrial metals.
Investment strategy. Under the background of steady recovery of downstream demand, the industrial metal faucets with rigid supply and warm demand have greater elasticity, and are expected to gradually reverse. With the support of large-scale equipment renewal and trade-in of consumer goods in China, the economy may usher in a further recovery, and the non-ferrous metal industry is expected to take the lead in benefiting.
Technical: **Long, the stock price is in an upward trend, and the volume can be moderate, you can pay attention to the dip.
The above is only used as a teaching case and does not constitute investment advice, and is for reference only.
Reference**: March 4, 2024 Hualong ** High**, industrial metals are waiting for demand to recover.
Special Disclaimer: The content of the article is for reference only and does not constitute investment advice. Investors act accordingly at their own risk.
This article is edited by investment consultant: Shang Yaxiong a1290623030001.