Key Macroeconomic Indicators for Base Metal Prices (2017-5-25)

Published: May 25, 2017 09:42
Market will eye last week’s US initial jobless claims, OPEC’s half-year meeting and minutes of the US Fed’s May policy meeting.

SHANGHAI, May 25 (SMM) – Market will eye last week’s US initial jobless claims, OPEC’s half-year meeting and minutes of the US Fed’s May policy meeting.    

US initial jobless claims for last week are expected to be in a normal range, which will have limited impact on US dollar. 

Minutes of the US Fed’s May policy meeting showed US Fed officials agreed to announce details for plans of scaling back balance sheet in the short term and consider it appropriate to begin reducing balance sheet from this year. US Fed officials understand that it is a cautious and wise approach to wait for more evidence to show economic slowdown is just temporary. This means the US Fed wishes to raise interest rate, but is willing to wait for more economic data. This caused the US dollar index to fall.   

The OEPC will hold its 172th half-year meeting today. Members of the OPEC will discuss matters over extending production cuts during the meeting so as to lift oil prices and stabilize market. It is pointed out that oil prices may rise initially and then fall back since positive impact from the meeting has been priced in.  


See SMM price forecast, please click: SMM Price Outlook for Base Metals on SHFE (May 25, 2017)


 

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 for 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
Zhongtian Technology Sees 31.10% Revenue Growth and 52.29% Net Profit Surge in H1 2026
1 hour ago
Zhongtian Technology Sees 31.10% Revenue Growth and 52.29% Net Profit Surge in H1 2026
Read More
Zhongtian Technology Sees 31.10% Revenue Growth and 52.29% Net Profit Surge in H1 2026
Zhongtian Technology Sees 31.10% Revenue Growth and 52.29% Net Profit Surge in H1 2026
In the first half of 2026, Zhongtian Technology achieved operating revenue of RMB 30.939 billion, up 31.10% year‑on‑year. Net profit attributable to parent shareholders hit RMB 2.387 billion, rising 52.29% year‑on‑year, while non‑recurring‑gain‑adjusted net profit came to RMB 2.212 billion, a year‑on‑year growth of 50.72%.As of July 31, 2026, the company held roughly RMB 33 billion of outstanding orders in its energy‑network segment, of which marine‑series orders accounted for about RMB 11.3 billion. It delivers a full‑chain product portfolio including submarine cables, dynamic cables, umbilical cables, offshore accessories and offshore engineering equipment. According to GWEC forecasts, around 328 GW of new global offshore‑wind installations will be added over the next decade. 4C Offshore projects that Eurasian cross‑border power interconnection will generate demand for over 60 000 km of submarine cables from 2026 to 2040.Synergistic scenarios covering the “six‑network framework” — AI computing power, optical‑fiber communications, offshore wind power, island energy interconnection, submarine data centers and other fields — unlock its second‑phase growth driver.
1 hour ago
Tongguan Copper Foil Sees 34.16% Revenue Growth and 514.75% Profit Surge in H1 2026
1 hour ago
Tongguan Copper Foil Sees 34.16% Revenue Growth and 514.75% Profit Surge in H1 2026
Read More
Tongguan Copper Foil Sees 34.16% Revenue Growth and 514.75% Profit Surge in H1 2026
Tongguan Copper Foil Sees 34.16% Revenue Growth and 514.75% Profit Surge in H1 2026
In the first half of 2026, Tongguan Copper Foil posted operating revenue of RMB 4.021 billion, representing a year‑on‑year increase of 34.16%. Its net profit attributable to parent shareholders reached RMB 214.9 million, surging 514.75% year‑on‑year. Non‑recurring‑gain‑adjusted net profit stood at RMB 207.3 million, jumping 754.21% from the prior‑year period.The company’s core businesses are lithium‑ion battery copper foil and electronic‑circuit copper foil. Its lithium‑battery copper foil covers ultra‑thin specifications including 4.5 μm, 5 μm and 6 μm, which are deployed in power batteries, 3C digital products and energy‑storage systems. High‑precision electronic copper foil products consist of PCB‑grade foils such as HTE foil, RTF foil and HVLP foil.During the reporting period, driven by the ultra‑thinning trend of lithium‑battery copper foil and robust demand for high‑frequency high‑speed AI servers and data centers, the company saw notable recovery in production‑sales volume and profitability. Stable supply of cathode copper from Tongling Nonferrous Metals secures its key raw‑material input.
1 hour ago
LS Cable & System Hits Record Sales and Profit, Driven by HVDC and Subsea Cable Demand
2 hours ago
LS Cable & System Hits Record Sales and Profit, Driven by HVDC and Subsea Cable Demand
Read More
LS Cable & System Hits Record Sales and Profit, Driven by HVDC and Subsea Cable Demand
LS Cable & System Hits Record Sales and Profit, Driven by HVDC and Subsea Cable Demand
The Korea Herald reports LS Cable & System booked 2025 sales of KRW 7.59 trillion (US$5.01 billion), up 12.2% YoY, and operating profit KRW 279.8 billion, up 1.9% YoY — both company records. Order backlog reached a record KRW 7.63 trillion at year-end, +22% YoY. Subsidiary LS Eco Energy posted KRW 960.1 billion revenue (+10.5%) and KRW 66.8 billion operating profit (+49.2%); LS Marine Solution revenue jumped 87.4% to KRW 244.2 billion. Management attributes the surge to HVDC systems, subsea cable demand and AI data-centre power investment, raising the 2030 sales target to KRW 10 trillion. The backlog mix confirms HVDC and power cable as the main earnings engine, driving structural copper/aluminium conductor demand through 2028.
2 hours ago