•United States Federal Reserve chair Jerome Powell suggested on Tuesday that tapering could start sooner than later.
•Fed’s hawkishness seems somewhat bold given the unknown over Omicron variant of Covid-19
•Barrage of data out on Wednesday will add to complexity of big picture
The three-month prices on the LME were rebounding on Wednesday morning and were up by an average of 1%, with gains ranging between 0.7% for aluminium ($2,642.50 per tonne) and 1.3% for nickel ($20,175 per tonne), with copper up by 1.2% at $9,564 per tonne.
This across-the-board rise follows the across-the-board decreases on Tuesday by an average of 1% - so the sideways oscillation continues.
The most-traded base metals contracts on the SHFE...