Key Macroeconomic Indicators for Base Metal Prices (2017-4-18)

Published: Apr 18, 2017 09:19

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Attention should be on a series economic data from US on Tuesday, including March’s new home starts, building permits, industrial production, manufacturing production and capacity utilization.

SHANGHAI, Apr. 18 (SMM) – Attention should be on a series economic data from US on Tuesday, including March’s new home starts, building permits, industrial production, manufacturing production and capacity utilization. Besides, LME market will reopen at 15:00 on Tuesday. Base metals are likely to stop decline and stabilize both on LME and SHFE markets but still face downward pressure.

SMM Price Outlook for Base Metals on SHFE (Apr. 18, 2017)

US’s NAHB housing market index released on Monday dropped in April. But US’s new home starts and building permits are expected to stay at highs in March in anticipation of higher mortgage resulted by nearing rate-hiking circle in US. Moreover, real estate market reports tightness in inventory, resulting in high housing price. Hence, US’s real estate market will remain decent.

Meanwhile, US’s industrial production and capacity utilization will maintain rising territory in March, easing market pessimistic sentiment from falling retail sales and inflation data in the month. It is learned that many local Federal Reserve Banks lower US’s economic growth anticipation in Q1 2017 due to the falling two data.

Macroeconomic Indicators base metals

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