China’s slowdown leading metal prices to ‘new equilibrium’
May 07, 2013 | 11:29 AM
SHANGHAI Lower-than-expected economic growth and a downward drift in commodity prices will become more evident this year as Chinas new leadership begins a rebalancing and remodeling of the economy.
The 7.7-percent gross domestic product (GDP) growth rate in the first quarter, slightly below anticipated levels, was partly to blame for a recent fall in copper prices and another round of reductions in analysts price forecasts.
But this is seen as just the beginning of a slowdown under which Chinas government will be reluctant to intervene to prop up the economy unless absolutely necessary for social or political stability. ....
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