China Vows To Increase Macro-Control Efforts, Expand Consumption And Stabilise Investment

Published: Jul 13, 2023 15:47

Save

After the economic recovery in the first quarter exceeded expectations, the recent macroeconomic indicators have fallen in an all-round way, and the prospect of recovery has arisen market concerns. In recent days, macro policies have continued to increase their efforts and improve their efficiency in order to stabilise market expectations and growth.

Zheng Shanjie, director of the National Development and Reform Commission, wrote an article a few days ago and pointed out that the foundation for the continued overall improvement of domestic economic operation still needs to be consolidated. China also rolled out monetary policy.

The People’s Bank of China increased the amount of re-loans and re-discounts for supporting agriculture and small businesses by a total of 200 billion yuan.

More popular news:

SMM Daily Comments (Jul 3): SHFE Base Metals Rose across the Board with Tin Surging, Ferrous Metals Prices Closed Mixed

SMM Daily Comments (Jul 5): Base and Ferrous Metals Prices Mostly Fell, WTI Soared despite Lingering Concerns over Global Economic Downturn

SMM Daily Comments (Jul 6): SHFE, LME Base Metals Diverged with SHFE Nickel and Tin Skyrocketing, Ferrous Metals Rose across the Board

China Commodity Supply and Demand Boomed in June

China Vows To Increase Macro-Control Efforts, Expand Consumption And Stabilise Investment

Citi Research Cautious about Copper Prices in Three Quarters, Iron Ore Prices to Have Support from Policy Stimulus

Macro economy

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

8 hours ago

Copper Scrap Payability Coefficients Hold Exceptionally Firm as Supply-Demand Mismatch Defies Traditional Market Logic

In May, copper prices surged before retracing, yet copper scrap payability coefficients remained exceptionally firm. Transactions for Millberry stabilized at a high level of 98.5%, while No. 2 copper became the market highlight, with its coefficient climbing from around 95% to 96%–97% due to the premium upside of its gold and silver by-products. Driven by stricter domestic policies and tax compliance, China demand remained robust. Conversely, tight overseas scrap supply persisted, and this structural mismatch kept import payability coefficients elevated and sticky for the short term. Under the current landscape of tight global supply and resilient demand, the traditional market logic of "surging copper prices driving down payability coefficients" has effectively become obsolete.

8 hours ago

9 hours ago

Copper Cathode Output Down 0.81% MoM in May, Up 2.73% YoY

[SMM Copper Cathode Production] Copper cathode production in May came in at 1.1694 million mt, down 0.81% MoM and up 2.73% YoY. Cumulative production from January to May was 5.8761 million mt, up 7.66% YoY cumulatively.

9 hours ago

Copper Cathode Output Dips in May, June Forecast Slightly Lower Amid Ongoing Smelter Maintenance

9 hours ago