Key Macroeconomic Indicators for Base Metal Prices (2016-12-13)

SHANGHAI, Dec. 13 (SMM) – China’s November investment, consumption and industry production data will be announced today. ZEW Economic Sentiment for Germany in December will also be released. Base metals diverged overnight, and will not weaken sharply today.

Eyes on China November Data, with Prices Fluctuating, SMM Says 

China’s investment, consumption and industry output in November will remain steady. Despite higher industry output sub-index in November manufacturing PMI, value-added at China’s large industrials are expected to remain flat at October’s due to high base in the same period of 2015. But declines in property investment will be limited also because of low base in the same period of 2015. But as growth in automobile and property industrials slowed noticeably from October, China’s consumer goods retail sales will fall in November.

ZEW Economic Sentiment for Germany in December and Present Situation Index may improve further, supporting the euro. Considering strengthening inflation in the US, US imported goods price index may also rise in November.