LIVE FUTURES REPORT 14/06: LME base metals broadly lower on disappointing Chinese data

Base metal prices on the London Metal Exchange drifted lower during London morning trading on Thursday June 14, weighed down by weaker-than-expected Chinese marco-economic data.

China’s fixed asset investment rose 6.1% year on year in May, against a 7% rise the previous month, while the country’s industrial production rose 6.8% on an annual basis in May, compared with 7% growth in April. “Given the poor Chinese data and the equity markets’ reaction to the likelihood of stronger monetary policy from central banks, the climate is not particularly bullish and the market may not see follow-through buying until stronger economic data is seen,” William Adam, Metal Bulletin senior analyst, said in his morning note. Yesterday’s data showed China’s total social financing growth, a broad...

Published

Susan Zou

June 14, 2018

11:50 GMT

Shanghai