SHANGHAI, May 3 (SMM) – The LME market will be closed today due to the bank holiday. China’s official manufacturing PMI was 50.1 in April, down 0.1 from March. Large producers posted a 0.5 drop. Production index and new order index also fell.
The weakening US dollar index drove up base metals. US non-farm employment data due for release this Friday are promising. But any boost to the US dollar index will be limited.
Base metals are expected to face pressure this week, with volatility rising.