US CPI Surge Fuels Inflation Worries, Causing Volatility in Base Metals Market

[US CPI Index Rises Above Expectations, Triggering Rangebound Fluctuations in Base Metals Market]

Macro front, US January CPI data rose 3.3% YoY, exceeding the planned 2%, sparking inflation concerns. The market expects the US Fed to adopt tighter monetary policy, leading to rangebound fluctuations in the base metals market. In terms of supply, nickel ore supply remains tight, but refined nickel faces a supply surplus, and LME nickel inventory increases.