Weekly Base Metal Write Up : metal prices are projected to stay high 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
According to the report, China's consumer inflation dropped to its lowest level since September 2021 in March, indicating that demand weakness persists despite an uneven economic recovery.
The dollar fell as data indicated that US consumer prices rose less than expected in March, raising expectations that the Federal Reserve will likely stop hiking rates after a probable increase in May.
Furthermore, the minutes of the Fed's most recent policy meeting revealed that policymakers projected that the banking sector's stress would cause the economy to enter a recession.
OUTLOOK: With China showing indications of demand recovery and the expectation that the US Fed will cease raising interest rates after a 25-basis-point increase in May, metal prices are projected to stay high
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