Key Macroeconomic Indicators for Base Metal Prices (2015-9-16)

SHANGHAI, Sept. 16 (SMM) – Overnight, market lacked major reports and base metal prices were mixed. Growth in US August industrial output slid 0.4%, returning to slip following 2 months’ growth. Increase in US August manufacturing output declined 0.5% from July, the largest slip since January 2014. German ZEW economic expectations index for September came in at 67.5, over expectation and August’s. But German economic optimism dropped sharply in September to 12.1, below the expected 18.3. Hence, EUR:USD slid 0.42%.

Chinese stock market is still in the spotlight. SSE Composite Index fell another 3.5% yesterday following a slip of 2.7% a day ago, recording the largest 2-day drop in 3 weeks. SSE Composite Index once deceased below 3,000 during the trading session and trading values in Shanghai and Shenzhen stock market were less than RMB 500 billion (USD 78.38 billion).

US dollar index grew 0.36% to 95.6. The most active contract for US crude oil increased 2.33%. European and US stocks increased across the board.