Remarks by US Secretary of the Treasury Greatly Soothes Market Jitters Caused by Banking Crisis in the US and Europe

Recently, overseas macro sentiment has had a great impact on the base metals market. The long-tail effect brought about by the collapse of Silicon Valley Bank and the banking crisis in Europe and the United States is lingering, which compounded market panic and risk aversion.

However, last Thursday, U.S. Treasury Secretary Yellen changed her tune and said that she is "preparing to take action to protect deposits if necessary", which greatly appeased market fears amid the ongoing banking crisis.