Key Macroeconomic Indicators for Base Metal Prices (2015-7-6)

SHANGHAI, Jul. 6 (SMM) – Greek people voted “no” in Sunday’s referendum and risk of a Greek exit grows. Euro tumbled this morning whereas US dollar index jumped to 96.694 after opening morning session.

The Shanghai composite index has fallen for three weeks, by near 30%. Though China released a series of favorable policies last week, China’s A-share tumbled another 5.77% last Friday. China Securities Regulatory Commission expressed last weekend that the People’s Bank of China will increase liquidity in stock market. Meanwhile, review of new share issues will be continued. The number of companies issuing new shares and financing amounts will fall considerably. 28 listed companies in Shanghai and Shenzhen stop to issue shares temporarily. News came that some futures companies prepared enough cash fund to face issues of large rise in spot index or the index hitting upward limit.

COMEX and US stock markets were suspended for Independence Day holidays. US dollar index dropped 0.12%. LME base metals fell across the board.