Safe-haven demand and cooling US inflation, coupled with the core CPI falling below forecasts in December, pushed base metals to new heights yesterday (January 14). Investors now expect two interest rate cuts this year, driving an increase in prices of base metals.
The London Metal Exchange (LME) copper futures rose to US$13,188.50/ton, hiking by 6% in just two weeks. Meanwhile, LME tin surged by nearly 8% to US$53,462/ton. This growth was due to tin’s vital role in AI and data center soldering, plus low market liquidity and heavy buying from Chinese investors.
In addition, gold and silver also reached all-time highs during the session, reflecting the entire strength across the sector as capital pours into industrial and precious metals.