Key Macroeconomic Indicators for Base Metal Prices (2016-3-31)

SHANGHAI, Mar. 31 (SMM) – Base metals should extend diverging trend on Thursday after downside momentum waning. Eyes will be on inflation data from euro zone, US initial jobless claims and challenger layoffs today.

Inflation outlook in euro zone seems to show no sign of improvement, which was also in line with March falling output prices released previously. The ECB also slashed its inflation outlook to 0.1% and anticipants that the 2% inflation will be hard to obtain even till 2018.

US job market still maintain positive. US March manufacturing PMI may pick up. US Richmond Fed, NY Empire State, Philadelphia Fed and Kansas Fed manufacturing indexes improved significantly in March, despite US soft manufacturing industry this year.

Base Metals to See Greater Volatility, SMM Says