Alta Copper Corp. T.DNT

China Copper - No Economic Slowdown

[bigmoney14]

Market Nuggets: Barclays: China’s August Import Data Does Not Hint At Serious Economic Slowdown

21 September 2011, 04:01 p.m.
By Kitco News
https://www.kitco.com/

(Kitco News) - There were few signs in China’s August commodity trade data suggesting any serious economic downturn, say analysts with Barclays Capital. In fact, the August report is “the strongest for a long time,” Barclays says. “Furthermore, with some of the macro-economic concerns surrounding the Chinese economy starting to ease and a period of de-stocking for several industrial metals and energy commodities apparently drawing to an end, the prospects for overall commodity import demand look firm.” Among base metals, imports rose for refined copper, as well as aluminum and zinc. “A similar picture is evident in energy markets,” Barclays says. In agriculture, corn imports hit their highest in 10-months, wheat imports stayed high, 44% above year ago levels, while sugar imports hit an all-time high. A decline in silver imports was one of the few weak spots in the August trade data for commodities, but imports of platinum group metals rose in line with the recovery in domestic auto sales, Barclays says.

By Allen Sykora of Kitco News [e-mail]

https://www.kitco.com/reports/KitcoNewsMarketNuggets20110921.html