China stimulus likely to drive prices
Next week, commodity markets will be closely watching the annual meeting of China’s parliament, the National People’s Congress, hoping for additional fiscal stimulus. The government’s Work Report and Budget will be presented on the first day. Meanwhile, on Friday, China is set to publish its February trade data. Commodity imports held up well in January, but they may have been boosted by some stockbuilding ahead of the Lunar New Year holiday. As such, the February data could be weaker.