China's commodity demand expected to recover
Updated: 2012-09-07 11:06
(China Daily)
|
|||||||||||
China's commodity demand is set to rebound in the final quarter as the world's largest user of energy and metals will see more infrastructure projects and construction, according to Goldman Sachs Group Inc.
Demand growth bottomed out in the second quarter, Julian Zhu, China commodities analyst at the New York-based bank, said at a media briefing in Singapore on Thursday. Copper and cement are among the beneficiaries of the trend, while aluminum and steel will stay weak because of overcapacity, he said.
Growth in the second-largest economy dropped to the slowest pace in three years between April and June, hurting the outlook for commodities. Goldman pared its forecast for China's gross domestic product growth this year to 7.6 percent from 7.9 percent, according to a report on Thursday.
"We expect demand to rebound further into the fourth quarter because of the ongoing resumption of infrastructure projects that were delayed or suspended in the second half of 2011," Zhu said.
China Daily-Agencies
Related Stories
Govt speeds up infrastructure spending 2012-08-29 13:18
China boosts railway-cost target for second time 2012-07-31 12:31
Infrastructure to be planned by subregions 2012-07-21 13:19
Railway Ministry to raise $3.14b via bonds 2012-08-21 14:47
Can big local projects effectively drive growth? 2012-08-31 16:45
Local govts quick to issue stimulus plans 2012-08-22 10:19
Today's Top News
President Xi confident in recovery from quake
H7N9 update: 104 cases, 21 deaths
Telecom workers restore links
Coal mine blast kills 18 in Jilin
Intl scholarship puts China on the map
More bird flu patients discharged
Gold loses sheen, but still a safe bet
US 'turns blind eye to human rights'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
All-out efforts to save lives |
Liaoning: China's oceangoing giant |
Poultry industry under pressure |
'Spring' in the air for NGOs? |
Boy set to drive Chinese golf |
Latest technology gets people talking |