01-01-1970 12:00 AM | Source: Angel One Ltd
Weekly Base Metal Outlook : Metals prices are anticipated to be under pressure Says Mr. Saish Sandeep Sawant Dessai, Angel One
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Below is Weekly Base Metal Write Up by Mr. Saish Sandeep Sawant Dessai, Research Associate- Base Metals, Angel One Ltd
Base Metals Report
The weakness in the base metals is still present, as every metal except copper closed the most recent week on a lower note.
A weaker dollar and a rally in metals were initially sparked by the US consumer price data for January, which revealed the weakest annual gain since late 2021.
Because of expectations that China's economy will rebound from its downturn last year, industrial metal prices increased in January, with aluminum reaching a seven-month high.
However, after that, due to weak Chinese demand and a quick buildup of supplies in exchange warehouses, aluminum prices fell to five-week lows.
Outlook: Metals prices are anticipated to be under pressure, given the sentiment that the US Fed will keep interest rates high, in order to control rising inflation.
A weaker dollar and a rally in metals were initially sparked by the US consumer price data for January, which revealed the weakest annual gain since late 2021.
Because of expectations that China's economy will rebound from its downturn last year, industrial metal prices increased in January, with aluminum reaching a seven-month high.
However, after that, due to weak Chinese demand and a quick buildup of supplies in exchange warehouses, aluminum prices fell to five-week lows.
Outlook: Metals prices are anticipated to be under pressure, given the sentiment that the US Fed will keep interest rates high, in order to control rising inflation.
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