London Metal Exchange nickel was the only metal to make small gains on Thursday March 18 morning, with the rest of the complex trading sideways following the US Federal Reserve's reiterated stance on interest rates on Wednesday evening.
"Fed Chair Jerome Powell said there's no need to react to climbing Treasury yields [with the 10-year notes yield hitting 1.73 on Thursday morning because] officials see inflation easing off later this year," LME Desk analyst at Marex Spectron Anna Stablum said. The US Federal Reserve expects inflation to rise to 2.4%, above the expected 2%, this year but this surge is temporary, with levels returning to their expected numbers in 2022."Powell added that...