Nickel tumbles 1%, industrial metals hurt by dollar's strength

Industrial metals lost ground today as the dollar powered up against most major rivals as markets assess latest data. 

Inflation Slowdown

US inflation continues to recede with producer prices hitting year and a half lows. 

US producer prices rose 4.6% in February, missing estimates of a 5.4% increase, and slowing down from January's 5.7% increase.

Core prices, excluding food and energy, rose 4.4%, below estimates of a 5.2% increase, and compared to January's 5.4% increase.

On a monthly basis, producer prices fell 0.1% in February, while analysts expected a 0.3% increase. 

The Dollar

Uncertainty is spreading around the Federal Reserve's upcoming moves on monetary policies. 

As inflation slows down, it's expected the Fed will calm down the pace of policy tightening in upcoming meetings. 

The dollar rose 1.1% as of 13:23 GMT to 104.7, with a session-high at 104.8, and a low at 103.4. 

Nickel spot prices fell 1.4% to $22.518 thousand a tone as of 13:34 GMT.