Analysts: Metals head lower this month; More downside expected after release of fundamentals

The commodity complex is weaker post jobs data, analysts at INTL FCStone say noting that they expect more downside. 

Edward Meir, commodity consultant at the firm, says that "most commodity markets, including base metals and energy, have further room to fall over the course of June, as the negative fundamentals in both these complexes should trump any potential exogenous bullish variables, such as currency fluctuations or expectations of further stimulus out of China.”

The next fall in the metals group could come as early as next week after the release of a series of Chinese macro readings, most of which we suspect will far short of estimates, he added.