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