Key Macroeconomic Indicators for Base Metal Prices (2016-5-6)-Shanghai Metals Market

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Key Macroeconomic Indicators for Base Metal Prices (2016-5-6)

Price Review & Forecast 09:31:03AM May 06, 2016 Source:SMM

SHANGHAI, May 6 (SMM) – The market will remain cautious ahead of the release of a string of economic indicators from the US. Base metals should remain weak today.

US non-farm employment slated for release today may fall short of market expectations, citing unexpectedly downbeat ADP’s employment in April and big gains in Challenger’s layoffs in April. But this will unlikely trigger overt pessimism over US job market.

Growth in salaries is not promising due to slow growth in the US service sector.

See SMM price forecast, please click: Base Metals to Stay Weak, SMM Says


Key Macroeconomic Indicators for Base Metal Prices (2016-5-6)

Price Review & Forecast 09:31:03AM May 06, 2016 Source:SMM

SHANGHAI, May 6 (SMM) – The market will remain cautious ahead of the release of a string of economic indicators from the US. Base metals should remain weak today.

US non-farm employment slated for release today may fall short of market expectations, citing unexpectedly downbeat ADP’s employment in April and big gains in Challenger’s layoffs in April. But this will unlikely trigger overt pessimism over US job market.

Growth in salaries is not promising due to slow growth in the US service sector.

See SMM price forecast, please click: Base Metals to Stay Weak, SMM Says