Below is quote on Base metals Update  By Mr. Yash Sawant, Research Associate, Angel One Ltd.

Base metals Update 

The dip in Industrial metals in the recent weeks was following the demand concerns arising from China. Disruptions in China’s property, construction and manufacturing segments (the major consumers of Base metals) pressured market sentiments.

Also, mounting Inflation concerns increased bets over an early hike in interest rates by the US Central Bank which supported the US Dollar.

Liquidity concerns reflecting the debt worries in China’s property segment and chances of sooner than expected increase in interest rates undermined the outlook for the Base metal complex.

Signs of improving relations between US & China following the brief call between U.S. President Joe Biden and Chinese President Xi Jinping might support the Base metals complex in the weeks ahead.

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