SHANGHAI, Jan. 10 (SMM) – General Administration of Customs announced domestic foreign trade data in December 2012 on the morning of Thursday. Economists predict China's exports will accelerate in the period, which, combined with recent industrial data and infrastructure construction projects approvals, reflect China's economy is improving.
During European trading hours, Bank of England and European central bank announced interest rates policy for January. The market expects they will maintain current monetary policies and assets purchase volumes, and will barely affect base metals market.
Besides, China's investments in power grid will increase 4%, to RMB 318.2 billion in 2013. Although the investment expansion on grid will positively affect copper consumption, the RMB 8 billion increase expected will hardly boost copper prices.
As such, base metals prices should fluctuate sharply on Thursday on China's economic data, with increases limited.