Metals Market Sees Broad Decline Amid Shift in Fed Rate Hike Expectations

The global metals market saw a decline in base metal prices overnight, with LME copper and aluminum falling by over 1% each.

SHFE copper dropped 0.89%, while SHFE aluminum fell 0.75%. LME zinc plummeted 1.68%, and LME tin declined 1.12%. However, SHFE lead rose 0.47% in contrast to the overall decline.

In precious metals, COMEX gold dropped 1.88%, and COMEX silver tumbled 4.24%. The most-traded SHFE gold contract fell 0.95%, while the most-traded SHFE silver contract plummeted 2.95% overnight.