China's property market, credit crackdown poses risk for metals demand
Apr 30, 2010 | 10:34 AM
China's crackdown on the property market has yet to slow demand for steel and base metals, but sentiment has soured as markets weigh the possibility of further tightening to come.
The government told banks in mid-April to raise down-payments to at least 50 percent for second-home mortgages and charge 1.1 times benchmark interest rates on those loans. It also urged banks to "sharply increase" down-payments and interest rates for third house buyers.
The October rebar contract on the Shanghai Futures Exchange has lost more than 6 percent since then, and copper prices on the exchange have fallen as much as 10 percent.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.