Key Macroeconomic Indicators for Base Metal Prices (2016-3-4)

SHANGHAI, Mar. 4 (SMM) –US February non-farm payrolls will come under the spotlight on Friday. 

US non-farm sector added just 151,000 jobs in January, well below 190,000 expected, and US non-farm payrolls were December 2015 were revised down slightly. But US jobless rate fell to 4.9% in January, and wage growth also well beat forecast. Even if US non-farm payrolls turn positive, it remains uncertain whether the US Fed will raise interest rate in March. 

US core CPI grew more than expected on a year-on-year basis in January, recording the biggest growth since June 2012. US retail sales also beat forecast in January. Improving inflation and consumption are closely associated with growing wages. Investors will wait to see whether wages in the US will maintain growth in February.   

See SMM price forecast:please click Shanghai Base Metals to Consolidate at Highs, SMM Says