The prices of nonferrous metals experienced a decline on Friday as a result of comments made by U.S. Federal Reserve officials. The officials’ remarks, which indicated the possibility of future rate hikes in order to combat inflation, sent a signal to the market. This signal prompted a decrease in the prices of nonferrous metals.
Investors and traders reacted swiftly to the hawkish comments, perceiving them as a potential indication of tighter monetary policy. As a result, the demand for nonferrous metals decreased, leading to a decline in their prices. This development highlights the interconnectedness between global economic factors and the performance of nonferrous metals in the market.
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