Key Macroeconomic Indicators for Base Metal Prices (2016-12-27)

SHANGHAI, Dec. 27 (SMM) – The LME market will remain closed today. Profit at China’s large industrials in November, Conference Board’s CCI and Richmond Fed’s manufacturing index in December will be released today. SHFE base metals weakened overnight and may rally today.

Base Metals to Stay Weak, SMM Says

Profit at China’s large industrials is expected to improve further in November. Value-added at large industrials increased during January-November. Growth in domestic fixed-asset investment remained at October’s level. November PPI rose 3.3% YoY, the largest rise in 3.5 years. Commodity prices also jumped in November.

US home prices climbed steadily in light of NAHB housing market index, FHFA home price index and 30-year mortgage loan rate. But home price index in the 20 large cities in October may fall short of September’s.