Key Macroeconomic Indicators for Base Metal Prices (2016-11-25) -Shanghai Metals Market

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Key Macroeconomic Indicators for Base Metal Prices (2016-11-25) 

Price Review & Forecast 09:36:27AM Nov 25, 2016 Source:SMM

SHANGHAI, Nov. 25 (SMM) –Market will eye a series of US economic data, including October wholesale inventories, Markit’s November service PMI and composite PMI, as well as UK Q3 GDP on Friday.

Markit’s US service PMI has been rising since February. This, plus recent positive US economic data, suggest Markit’s US service PMI will continue rising in November. 

UK’s Finance Minister raised UK’s GDP growth forecast for 2016 to 2.1%, up from 2% growth predicted in March. Kristin, member of the BOE’s MPC said Brexit vote had limited drag on UK economy. So, UK Q3 GDP growth should remain high at 2.3% and may even be revised upwardly.  
 

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#1 Refined Cu
Apr.18
49600.0
40.0
(0.08%)
Yangshan Copper Premium(Bill of Lading)
Apr.18
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
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50.5
-1.0
(-1.94%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.12
68.5
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(-0.72%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

Key Macroeconomic Indicators for Base Metal Prices (2016-11-25) 

Price Review & Forecast 09:36:27AM Nov 25, 2016 Source:SMM

SHANGHAI, Nov. 25 (SMM) –Market will eye a series of US economic data, including October wholesale inventories, Markit’s November service PMI and composite PMI, as well as UK Q3 GDP on Friday.

Markit’s US service PMI has been rising since February. This, plus recent positive US economic data, suggest Markit’s US service PMI will continue rising in November. 

UK’s Finance Minister raised UK’s GDP growth forecast for 2016 to 2.1%, up from 2% growth predicted in March. Kristin, member of the BOE’s MPC said Brexit vote had limited drag on UK economy. So, UK Q3 GDP growth should remain high at 2.3% and may even be revised upwardly.