Jiang Hang News Today

CRU sees copper demand in China growing 5% this year, while Goldman Sachs Group Inc. named copper as one of its top commodities picks for next year.

The one commodity that should be getting hammered by China’s worsening property crisis is actually doing rather well. That’s good news for Australia.

(Bloomberg) -- The one commodity that should be getting hammered by China’s worsening property crisis is actually doing rather well.Most Read from BloombergChina’s Worsening Economic Slowdown Is Rippling Across the Globe3M Agrees to Pay More Than $5.5 Billion Over Combat EarplugsAuto Union Boss Wants 46% Raise, 32-Hour Work Week in ‘War’ Against Detroit CarmakersGoldman Is Selling a Wealth-Advisory Unit to $240 Billion Money ManagerTrump Doesn’t Look So Invinci...

The one commodity that should be getting hammered by China’s worsening property crisis is actually doing rather well. Iron ore climbed to its highest in a month last week after a rally that has defied deepening gloom over China’s debt-laden economy. Prices have largely kept above the key $100-a-ton threshold…

Copper fell below $8,000 a ton for the first time in six months this week as prospects for a quick rebound in Chinas economy recede.

The metal has been under pressure as a raft of data in recent weeks has showed the post-virus rebound in China, which consumes around half the world’s copper, is stuttering. Unlike in previous slowdowns, Beijing is depriving metals of a safety net by not deploying any big-ticket spending on infrastructure or property.

The metal is down around 11% this quarter.

Commodities from iron ore to copper fell after China set a cautious economic growth target of about 5% for the year and didn t announce any major new...

Copper prices fell the most in nearly seven weeks Wednesday as demand concerns outweighed supply disruptions and bets that the end of China's COVID restrictions will reignite growth

“We believe that the early January direction is correct but that the timing is slightly off,” said Saxo Bank.