Home / Metal News / Key Macroeconomic Indicators for Base Metal Prices (2016-3-2)

Key Macroeconomic Indicators for Base Metal Prices (2016-3-2)

iconMar 2, 2016 09:12
Source:SMM
Market attention will focus on US February ADP employment report and the euro zone’s January PPI, as well as changes in US crude oil stocks on Wednesday.

SHANGHAI, Mar. 2 (SMM) –Market attention will focus on US February ADP employment report and the euro zone’s January PPI, as well as changes in US crude oil stocks on Wednesday.   

It is expected that US February ADP employment will be revised down slightly. However, there are also bright spots in US labor market. US initial jobless claims have been around 300,000 for 51 weeks in a row.  

The euro zone’s annualized CPI for January, though higher than preliminary reading and December 2015, grew less than expected. The euro zone’s annualized PPI also missed forecast in December 2015. This makes 2% inflation target impossible to achieve for the foreseeable future. The euro zone’s PPI may see limited improvement in January.  

The API’s US crude oil stocks surged 9.9 million barrels last week, with stocks in Cushing up 1.8 million barrels. Crude oil futures contract for April delivery saw a nosedive immediately after release of the crude oil stocks.

See SMM price forecast:please click Shanghai to See Diverging Trends in Base Metal Market, SMM Says


   


base metal
base metal price forecast

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news

SMM Events & Webinars

All