Don Kenobi
/ 83.5.243.* / 2009-06-30 13:18
Chiny zakończyły kupno miedzi na tworzenie rezerw, teraz je upłynniają, żeby zapobiec wzrostowi cen.
Yu Dongming, chief of the metallurgical division in the National Development and Reform Commission's industry department, was cited by Caijing magazine as saying the policy had achieved its aims of raising market confidence, reducing stockpiles and stabilizing prices.
'The verdict is still out on which alphabet letter would best describe the recovery: L, U, V or W.'
RBC Capital Markets
Traders in Australia called the news significant, as it suggested China was using its substantial stockpiles to try to keep prices from pushing substantially higher.
"There's no doubt their recent buying interest has helped base metals recover this year. Now that China's buying has finished, it's likely to place even more short-term pressure on commodity prices," wrote Ben Potter, analyst at IG Markets in Melbourne.