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WSJ: Weak Chinese imports cast doubt on big rallies in iron ore, copper

Published 08/08/2017, 10:17 AM
© Reuters.  WSJ: Weak Chinese imports cast doubt on big rallies in iron ore, copper
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  • Copper prices have climbed 7% and iron ore has jumped more than 20% since the end of June, but July trade data suggests that China's demand for metals may be weaker than it has seemed, according to WSJ's Heard On The Street.
  • Y/Y growth in Chinese imports of copper concentrate slowed from June’s pace, while imports of iron ore and coal declined outright compared with both the previous month and a year ago; overall import and export growth also slowed, hinting that the lift to China from rebounding global trade may be near its peak.
  • China's investment growth has stalled in the electric power and information technology sectors, the most important infrastructure sectors for copper, and Chinese steel capacity cuts are unlikely to be enough to sustain a strong rally without help from solidly growing demand, WSJ's Nathaniel Taplin writes.
  • ETFs: FXI, JJC, YINN, YANG, GXC, FXP, PGJ, DBB, MCHI, TAO, CHN, TDF, XPP, CPER, YXI, CN, FCA, YAO, GCH, CXSE, BOM, JFC, CHII, CHIE, BOS, KFYP, CHIM, JJM, CUPM, BDD, RJZ, BDG, UBM, HEVY
  • Now read: Is China Stocking Up On Commodities?

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