China's anti-pollution drive will unsettle global commodity prices
Shanghai
CHINA'S plans to tackle pollution over the winter could be the "next big event to unsettle global commodity prices", and plant closures may be compounded by restrictions on transport and construction, according to Morgan Stanley.
"These policies really are unprecedented," analysts including Tom Price said in a note dated Sept 25 that lifted the bank's forecasts for most metals. Investors will probably be cautious as they wait to see the scale and timing of the measures, which could include disruptions to ports, rail and road, as well as closing steel and aluminium plants in key hubs, according to the bank.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Opec+ may need to tackle oil capacity conundrum next month
Gold flat ahead of US payrolls data, set for second weekly drop
Oil settles near 7-week lows, focus shifts to economy
Exxon-Pioneer deal gets green light from US FTC, Pioneer exec barred from board
Shell maintains pace of buybacks as profit beats estimates
Gold prices drift higher as Fed stands pat on key interest rate