re: metal stockpiles continue to decline Gann,
Who says Chinas growth rate is expected to fall back to 2001 levels apart from you and probably hopeful Economic Chineese Commentators?
Look what happened last time they raised interest rates.
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Commodities prices fell in the second quarter of 2004, the last time China moved to curtail investment. The government limited lending to projects such as steel mills and auto plants two years ago, only to see investment rebound in 2005.
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As I said in a previous post China still has to import alot more of the base metals to meet demand in the short term.
As far as I know they cannot get it out of their @rse.
That means short term Base metal prices will continue going up to meet demand. Just look at the difference between the Copper spot price and Futures for May & Jly.
Big difference.
Its the longer term which should be interesting.
Cheers markco2
re: metal stockpiles continue to decline Gann,Who says Chinas...
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