Key Macroeconomic Indicators for Base Metal Prices (2016-3-24)

SHANGHAI, Mar. 24 (SMM) –Market will eye US February durable goods orders and Chinese Premier Li Keqiang’s speech during the Asia Boao Forum on Thursday. 

Markit’s US preliminary manufacturing PMI for February unexpectedly hit a 40-month low. US final manufacturing PMI for February fell from January, with growth in production and order continuing worsening and exports sluggish. As such, US February durable goods orders are expected to soften in February.   

The ECB will release economic report today. ECB President said not to cut interest rate following the March policy meeting, but things turned out to be different. Should the economic report send dovish signals, the euro will continue taking a hit. 

See SMM price forecast, please click: Base Metals to See Downward Technical Pressures, SMM Says