Key Macroeconomic Indicators for Base Metal Prices (2016-12-29)

Dec 29, 2016 09:25

Source:SMM

Base metals weakened overnight, and will fluctuate weakly today given year-end cash tightness and current market sentiment.

SHANGHAI, Dec. 29 (SMM) – Base metals weakened overnight, and will fluctuate weakly today given year-end cash tightness and current market sentiment.

The number of US initial jobless claims last week due for release today is expected to stay below 300,000.

After the announcement of US crude oil inventories last week, crude oil prices fell at one point. But with market expectations that oil producing countries will slash output soon, NYMEX February oil prices returned above all moving averages. Oil prices will remain strong in the near term.

API crude oil inventories last week for the US released this morning expectedly surged, weighing on oil price. But NYMEX February oil still remains in a strong territory.

Base metals

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

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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

Privacy Policy Compliance Centre SMM Credit Service Contact Us About Us Terms & Conditions Sitemap Holiday Pricing Schedule

Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher.

Key Macroeconomic Indicators for Base Metal Prices (2016-12-29)

SMM Events & Webinars

SMM LME Metals Seminar 2025

Li-ION BATTERY China

APAC (10th) Ni-Cr-Mn Stainless Steel & New Energy Conference 2025