China copper smelters plan to cut output after margins fall
The output cuts underscore the industry’s struggle with a shortage of feedstocks caused by recent mine production setbacks.
Bloomberg reported bleak news from a leading Asian analyst who says there is no doubt that China’s economy is already landing hard.
Adrian Mowat, JPMorgan Chase & Co.’s chief Asian and emerging-market strategist, made the comments at a conference in Singapore on Wednesday:
“If you look at the Chinese data, you should stop debating about a hard landing. China is in a hard landing. Car sales are down, cement production is down, steel production is down, construction stocks are down. It’s not a debate anymore, it’s a fact.”
2 Comments
Aliowhk
China can no longer drive its economy at double digit. now reversing to 7.5% growth for
year 2012, may be 7% at 2013……inventories of copper, iron ore, steel, coal are at all time high!!
Look
Gee, terrible disaster, take shelter, sell all you have ( and put it into dollars): China is ONLY growing fivefold over the US.