Key Macroeconomic Indicators for Base Metal Prices (2016-11-1)

Published: Nov 1, 2016 09:36

Save

October manufacturing PMIs from China and the US, and IBD CCI for the US in November will be released today. Base metals diverged overnight, and such situation will continue today.

SHANGHAI, Nov.1 (SMM) – October manufacturing PMIs from China and the US, and IBD CCI for the US in November will be released today. Base metals diverged overnight, and such situation will continue today.

China’s official manufacturing PMI in September remained flat at August, and new export order index and import index expanded. But China’s import and export data unexpectedly weakened in September.

New York fed manufacturing index in October fell both short of expectations and September, and the worst since May, boding ill for ISM’s October manufacturing PMI for the US. But Markit’s flash manufacturing PMI in October topped both market expectations in final data in September, and was the highest since October 2015. This means US manufacturing is still promising.

Bank of Japan will announce its interest rate decision for November, and is expected to leave rate unchanged.

Base metals

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

21 hours ago

"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"

Premier Li Qiang presided over an executive meeting of the State Council to study policy measures for promoting effective investment. The meeting noted that promoting effective investment plays an important role in stabilizing economic growth and strengthening momentum for development. It is necessary to innovate and improve policy measures, and intensify efforts to enhance the efficiency of utilizing funds such as central budget investments, ultra-long-term special treasury bonds, local government special bonds, and new-type policy-based financial instruments. In conjunction with formulating and implementing the 15th Five-Year Plan

21 hours ago

"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the Party’s 20th Central Committee, fully and faithfully apply the new development philosophy, strengthen top-level design, build computing power interconnection nodes oriented toward national hub periods, major strategic regions, and key industries, establish a system of computing power interconnection nodes, improve the efficiency and service level of public computing power resources, and promote high-quality development of computing power.

21 hours ago

22 hours ago

Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions

After intensive indirect consultations, the new round of nuclear talks between Iran and the US in Muscat, the capital of Oman, has achieved phased progress. It is reported that during this round of talks, the Iranian and US delegations did not meet directly. Instead, Omani Foreign Minister Badr acted as an intermediary, conveying a series of core proposals, strategic concerns, and policy positions to the other side. The atmosphere at the talks was tense yet efficient. According to preliminary on-site assessments, although both sides continue to negotiate over specific terms, they have reached a consensus on the key objective of "continuing dialogue."

22 hours ago