Key Macroeconomic Indicators for Base Metal Prices (2017-6-19)

SHANGHAIM, Jun. 19 (SMM) – Market players will see light economic data on Monday, and attention should be on China’s house price in 70 medium and big cities, UK’s Brexit negotiation and The Chicago Fed National Activity Index Chair’s speech. Base metals were mixed last Friday and will remain divergent on Monday.

China will release house price in 70 medium and big cities on Monday, and there will be more cities register decline in house price. Real estate market cools down due to regulations. Cities, reporting falling house price growth in April, increased sharply, including 15 first tier-cities and some second-tier cities. House price is expected to drop further in face of the first decrease in real estate investment in May.

SMM Price Outlook for Base Metals on SHFE (Jun. 19, 2017)

The UK will launch Brexit negotiation on Monday. UK’s general election has raised market concerns, but has not affected Brexit. UK will compromise on some items.

Meanwhile, result of French second legislative election will be announced on Monday. There is a big possibility for Macron to win. So, this will make limited impact on the market.