After the Fed announced on June 17, 2021 that it is considering a possible slight rate hike in 2023, the markets have reacted as expected and set back slightly. However, have already recovered this morning. We look at the current values.

Stainless Espresso: Fed mulls slight rate hike in 2023
Stainless Espresso: Fed mulls slight rate hike in 2023

Facts, figures, data: Fed announcement resets values slightly, as expected

After the us Fed yesterday announced that one is thinking about 2023 to raise interest rates slightly, the market has reacted as expected and triggered a reset in the currency pair USD-EUR, as well as in metals, such as nickel.

In the meantime, the metals seem to have regained their footing and are already pointing back into positive territory. And the currency pair seems to pause in its ups and downs, at least for the moment.

What is the current situation on the LME and SHFE?

At the SHFE, the HRC and Stainless Steel futures are rising today. Nickel is also picking up on SHFE (+1.61% ) and LME (+0.77%). Aluminum futures on LME (+0.97%) and SHFE (+1.25%) also up. As of 08:30 (GMT+1) on Friday, June 18, 2021. US HRC Steel futures, on June 17, 2021, have closed at $1,660 the ST.


Chinese steel ingredient prices rise

Prices of raw materials for steel production were up yesterday (Thursday).

At a briefing, the state planner said that with the development of China’s economy, the demand for crude steel can still grow during the 14th Five-Year Plan.

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