Key Macroeconomic Indicators for Base Metal Prices (2017-6-27)

Published: Jun 27, 2017 09:29

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Profit at China’s large industrials in May and Conference Board’s June CCI for the US will be released today.

SHANGHAI, Jun. 27 (SMM) – Profit at China’s large industrials in May and Conference Board’s June CCI for the US will be released today. Fed Chair Jenet Yellen, Bank of UK President Carney and Philadelphia Fed Chairman Patrick Harker will speak today, which will be eyed. With the exception of LME lead, most of other base metals surged at first and then fell. Base metals are expected to diverge today.

Value-added at China’s large industrials in May posted flat growth, meaning profit at enterprises improved. Profit at SOEs rose 25.5% during January-May, compared to 24.8% during January-April. Profit at China’s large industrials in May is promising.

US new home and existing home sales in May were upbeat, presenting strong real estate market in the US. Home price index for 20 large cities in April before seasonally adjusted may rise with low inventories and higher home prices.

Fed Chair Janet Yellen expressed hawkish tone at the press conference after Fed’s June policy meeting. Whether she will insist on this viewpoint will affect the US dollar trend. Market expects her to shed some light on the timetable for dialing back balance sheet.

base metals

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