Key Macroeconomic Indicators for Base Metal Prices (2016-11-2)-Shanghai Metals Market

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Key Macroeconomic Indicators for Base Metal Prices (2016-11-2)

Price Review & Forecast 09:30:29AM Nov 02, 2016 Source:SMM

SHANGHAI, Nov.2 (SMM) – October manufacturing PMIs eurozone and eurozone countries and ADP’s employment for the US in October will be released today.

Eurozone economy is expected to improve, and October manufacturing PMIs eurozone and eurozone countries are promising.

ADP’s employment for the US in October may improve as Philadelphia Fed’s and New York Fed’s employment improved. Besides, ISM’s manufacturing PMI for the US was also better than expected.

API crude oil inventories last week unexpectedly grew 9.296 million barrels, weighing down oil prices. Should EIA crude oil inventories due for release this evening also post sharp gains, oil will continue to slide and dragged down commodities. 

Key Words:  base metals 

Key Macroeconomic Indicators for Base Metal Prices (2016-11-2)

Price Review & Forecast 09:30:29AM Nov 02, 2016 Source:SMM

SHANGHAI, Nov.2 (SMM) – October manufacturing PMIs eurozone and eurozone countries and ADP’s employment for the US in October will be released today.

Eurozone economy is expected to improve, and October manufacturing PMIs eurozone and eurozone countries are promising.

ADP’s employment for the US in October may improve as Philadelphia Fed’s and New York Fed’s employment improved. Besides, ISM’s manufacturing PMI for the US was also better than expected.

API crude oil inventories last week unexpectedly grew 9.296 million barrels, weighing down oil prices. Should EIA crude oil inventories due for release this evening also post sharp gains, oil will continue to slide and dragged down commodities. 

Key Words:  base metals