SHANGHAI, May 18 (SMM) – Diverging trend is expected for base metals on Wednesday with eyes on US last week’s crude oil inventories and euro-zone April CPI.
The final reading of annualized April CPI in euro zone should be negative. Inflation in euro zone shows no sign of upward momentum, European economists said. Though crude oil prices continue rallying, the flash annualized CPI for April fell short of forecast and remained in the negative territory.
The reduction in US last week’s API crude oil inventories missed forecast but market reaction stayed positive.