Soochow Securities Nonferrous Metals Weekly: CPI In Line with Expectations; Precious Metals Choppy on Rate-Hike Jockeying
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Soochow Securities' weekly nonferrous metals tracker frames the week around US CPI data landing in line with expectations, leaving precious metals oscillating as markets price the odds of further rate hikes. The macro dashboard leads with the FedWatch probability curve for hike and cut expectations and the US 10-year TIPS real yield, the two anchors for gold and silver pricing; a chart of weekly silver prices (USD/oz) rounds out the precious-metals block. Industrial-supply indicators follow: spot treatment charges (USD/dry ton) for the smelting chain, LME tin price history (USD/tonne), and molybdenum concentrate prices (RMB/tonne-degree), providing supply-side and industrial-demand read-throughs. On the battery-materials and rare-earth side, the pack tracks weekly lithium iron phosphate (LFP) output in tonnes alongside dysprosium oxide and terbium oxide prices (RMB/kg), key heavy-rare-earth markers. As a tracking weekly, the note is chart-driven, updating price, output and rate-expectation series rather than issuing ratings, targets or revised earnings forecasts. Together the exhibits span precious, base, battery and rare-earth materials, offering a one-page read on how Fed policy expectations transmit across the metals complex.
Key exhibits
Exhibit 1
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Exhibit 7
Exhibit 8
