Key Macroeconomic Indicators for Base Metal Prices (2015-11-17)

SHANGHAI, Nov. 17 (SMM) – Base metals prices are expected to remain weak due to market reticence.

US October CPI is not promising. Retail sales in October also fell short of market expectations. This should weigh on the US dollar, but any boost to base metals prices will be limited.

ZEW November economy climate index for Germany and Present Situation Index are expected to improve but will remain weak as a whole.

Crude oil prices will technically rebound now that they had continued to hit record lows. But crude oil exports by Iraq declined to 2.70 million bbl/day in October, meaning soft demand worldwide and further drop in oil prices is likely.