Key Macroeconomic Indicators for Base Metal Prices (2017-5-16)

Published: May 16, 2017 09:29

Save

Eurozone seasonally adjusted GDP, ZEW’s Economic Climate Index and Current Condition Index for Germany and eurozone in May, US April housing starts and construction permits will be released today. Bas

SHANGHAI, May 16 (SMM) – Eurozone seasonally adjusted GDP, ZEW’s Economic Climate Index and Current Condition Index for Germany and eurozone in May, US April housing starts and construction permits will be released today. Base metals mostly closed with gains but diverged.

NAHB Housing Market Index rose further in May in the US, reflecting strong real estate market, and boding well for US housing starts and construction permits in April.

SMM Price Outlook for Base Metals on SHFE (May 16, 2017)

IMF said Germany’s economic outlook is bright, and may raise its forecast for Germany’s economic growth. Germany may maintain high current account surplus. The proportion of Germany’s current account surplus in GDP is expected to fell to 7.5% in 2022, compared to 2016’s 8.3%. ZEW’s Economic Climate Index for Germany is expected to continue rising in May. Eurozone Q1 GDP growth is expected to rise, boosting the euro.

IEA monthly oil report will be eyed. OPEC monthly oil report shows crude oil output decreased 18,000 barrels per day in April to 31.732 million barrels per day. But OPEC raised forecast for growth of oil supply from non-OPEC countries to 64%, and left forecast for global oil demand unchanged.

base metals

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

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

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

Related News

13 hours ago

Tax-Inclusive Procurement Costs for Copper Scrap Rose, and "Reverse Invoicing" Became a Key Compliance Pathway

Looking back at 2025, as the transitional implementation year for the "reverse invoicing" policy, the National Development and Reform Commission's "Document No. 770" explicitly required the termination of local governments' non-compliant investment promotion cooperation. Under the policy guidance of building a unified national market, the copper scrap industry has been gradually moving toward a standardized and compliant development track.

13 hours ago

Mar 28, 2026 11:05

CMOC: 2025 Net Profit up 50.3% YoY, Copper Production at 741,100 mt; Niobium, Cobalt, Molybdenum, and Tungsten Output Exceeded Expectations

Mar 28, 2026 11:05

Mar 27, 2026 17:05

INE to Expand Tradable Options for Qualified Foreign Investors, Adding TSR 20 Rubber and Copper Contracts

According to an announcement by the Shanghai International Energy Exchange, with the approval of the China Securities Regulatory Commission, effective April 22, 2026 (from the night continuous trading session on April 21), the Shanghai International Energy Exchange (hereinafter referred to as INE) will further expand the range of tradable products available to Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors (collectively, Qualified Foreign Investors), with the newly added commodity options contracts open for trading as follows: TSR 20 rubber and international copper options contracts.

Mar 27, 2026 17:05