Key Macroeconomic Indicators for Base Metal Prices (2017-3-27)

SHANGHAI, Mar. 27 (SMM) – Value-added at China’s industrials in February, IFO’s economic indicators for Germany and Dallas Fed business activity index will be released today. LME base metals mostly weakened last Friday and will remain weak today.

Value-added at China’s industrials during January and February rose 6.3% YoY, compared to the 6.2% expected. As the data in February rose 0.6%, the value-added at China’s industrials during January and February may also rise and boost commodity market.

SMM Price Outlook for Base Metals on SHFE (Mar. 27, 2017)

IFO’s Business Climate Index for Germany is expected to stay high, and any change will be within rational level.

Dallas Fed business activity index has been rising since January 2016, and should remain high. But any boost to the commodity market will be limited since the US dollar stabilized around 99 recently.