SHANGHAI, May 27 (SMM) – Base metals will lack ability to rise today. Value added at China’s large industrials is expected to grow in April as declines in profit at China’s SOEs narrowed further in April, but increase will slow compared with March. The figure due for release today should boost the market.
US Q1 growth looks set to rise compared with flash data. US core retail sales in March was revised from 0.2% growth to 0.4% increase, while commercial inventory data also topped market expectations in March, which account for 2/3 in US economy.
Fed Chairwoman Janet Yellen will speak today, and the market will keep an eye on her statement.
See SMM price forecast, please click:Base Metals to Fluctuate at Highs, SMM Says