SHANGHAI, Nov. 10 (SMM) – China’s PPI for September fell 5.9%, slipping for 43 straight months and with declines expanding persistently. China’s economic growth shows no turnaround and industrial deflation will not disappear in short term. Markets expect PPI figure in October to be flat with September to fall 5.9%. This will weigh down base metals prices.
Eyes will be on China’s investment, consumption and value-added at above-scale industrial enterprise due out Wednesday.
Profit-taking by longs sent dollar US dollar and dollar rebounded modestly due to upbeat LMCI figures. Thus, US dollar should fluctuate at highs on Tuesday. US crude oil prices fell for four consecutive days and should stay weak today. Both factors bode ill for base metals prices.