Caixin
May 24, 2022 04:20 PM
ECONOMY

Base Metals Extend Rebound on Weaker Dollar, China Rate Cut

Aluminum rolls in a storage. Photo: Bloomberg
Aluminum rolls in a storage. Photo: Bloomberg

(Bloomberg) — Most base metals extended their rebound from a five-month low as the demand outlook was bolstered by a weaker U.S. dollar and China’s loan-rate cut. Nickel slumped, paring last week’s gain.

The Bloomberg Dollar Spot Index fell to the lowest level in nearly a month, making commodities priced in the U.S. currency relatively cheaper for many buyers.

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