• Home
  • Price
  • News
  • Publications
  • Database
  • Events
  • SMM APP
Shanghai Metals Market
All News Industry News SMM Insight Price Review & Forecast Data Analysis Company News Feature

Key Macroeconomic Indicators for Base Metal Prices (2017-6-15)

Jun 15 2017(GMT )   

SHANGHAI, Jun. 15 (SMM) –Market will eye US initial jobless claims for last week, New York and Philadelphia Fed manufacturing index for June and US import & export price index for May on Thursday. Market will continue digesting the US Fed’s policy decision during June meeting and closely watch the BOE’s policy decision.  

As expected, the US Fed decided to raise interest rate by 25 basis points and is optimistic that the US economy will see mild growth this year and labor market will grow steadily as well. The US Fed also admits inflation indicator fell and will closely watch developments of inflation level. The US Fed hinted that it will begin cutting balance sheet this year. The US dollar rose sharply after the policy decision.  

US Fed Chair Yellen’s speech was more hawkish than expected. She said the US Fed may begin cutting balance sheet early if development of US economy meets expectations. She added that gradual rate hike is guaranteed and said market should not overreact to certain inflation data.  

The BOE will release policy decision today. Result of general election in the UK earlier this month added to uncertainty over political outlook in the country. UK wage data released overnight remained sluggish. As such, the BOE may keep monetary policy unchanged.  

US economic data to be released today may be mixed. Annual rate of import price index may fall back in May, suggesting weakening inflation. Durable goods orders fell in April, reflecting a cool-down in manufacturing sector. New York and Philadelphia Fed manufacturing index for June and US industrial output for May will be released today. If these data continue falling, it will be seen as evidence of weakening manufacturing sector, which will put downward pressure on the US dollar.  

See SMM price forecast, please click: SMM Price Outlook for Base Metals on SHFE (Jun. 15, 2017)


 


Tags:  base metal price forecast   base metal prices 

Most Read

Wu'an steelmakers see output cut on air pollution woes

Wu'an steelmakers see output cut on air pollution woes

Steel mills in Wu’an city of Hebei province continued to see their operations restricted on environmental concerns, SMM learned.

  • SMM Morning Comments (Apr 9)
  • Join us at Asia Metals Seminar in Hong Kong
  • SMM CoLiNi Summit: China's lithium carbonate supply to exceed demand in 2018
  • Report: New-energy vehicle sales soar in Q1 on high demand
  • SMM CoLiNi Summit: Cathode materials to drive future of new-energy vehicles
  • SMM Evening Comments (Apr 13)
  • SMM Evening Comments (Apr 12)
  • SMM CoLiNi Summit: Chinese carmakers to have sufficient 'credits' from 2020
  • SMM Evening Comments (Apr 9)

Feature

  • Join us at Asia Metals Seminar in Hong Kong
  • Notice: Qingming holiday schedule
  • Notice: CNY holiday schedule
  • SMM Notice of 2017 Chinese National Day and Mid-Autumn Holidays
  • SMM Opens Singapore Office in Overseas Expansion
  • China Base Metal Output Data in July 2017, SMM Exclusive Data
  • SMM Nickel PMI Comes in at 60.74 in July, SMM Surveys
  • SMM Copper Demand Surprise Index: China Copper Demand Outperforms Expectation both in June and July 2017
SMM
Home
Price
News
Publications
Database
Consulting
Events
Tools
Metal Index
SMM Credit Services
Connect
About Us
Contact Us
Follow Us
In Twitter
In Facebook
In Linkedin

Copyright © 2018 SMM Inc. All rights reserved.

  • Privacy Policy
  • Terms & Conditions
  • Site Map
  • Chinese