SMM Comments: Base Metals and Ferrous Metals in Negative Territory, US Dollar and Oil Edge Higher as Renewed Expectations for US Interest Rate Hikes Weigh (Apr 4, 2023)

SHANGHAI, Apr 4 (SMM) – The US dollar index rose 0.15% to 102.22 as of CST 11:32 today.  Economic data on Monday showed US manufacturing activity fell to its weakest level in nearly three years in March and new orders continued to shrink. The lower-than-expected data once again provoked market expectations for the Fed to raise interest rates. Crude oil futures rose slightly. Base metals prices on the SHFE and LME fell across the board. Ferrous metals prices also went down, with coke prices down more than 4%.