SHANGHAI, Mar. 29 (SMM) – LME market reopens on Tuesday and diverging trend should intensify for base metals prices today.

Markets expect US March Conference Board CCI to improve from February. The University of Michigan’s CCI and IBD CCI picked up in February but fell back in March while the Conference Board CCI tumbled in February. Thus, should the figure turn out to be upbeat in March, US citizens still will not change their uncertain attitude towards US economic outlook.

There is still upside room for January house price index in US 20 big cities. Tight inventories and rising house prices are negative factors for US housing market. US January FHFA house price index grew 0.5% MoM and increased 6% YoY.

Attention is turning to speeches delivered by San Francisco Fed Chairman Williams and US Federal Reserve Chairman Yellen. Though many Fed officials support to raise rate in April or June, soft economic figures released on Monday will possibly make Yellen still hold a neutral attitude.   

Big Volatility Expected in Base Metals Market, SMM Says