SHANGHAI, Feb. 16 (SMM) – Kong Qingying, General-Manager of China International Capital Corporation Limited (CICC) will analyze base metals trends for 2012 from the macroeconomic front both at home and abroad during the China Copper & Aluminum Summit to be held in Shanghai during March 21-23.
Miss Kong said commodity markets during 2012 will be confronted with three major risks, namely all-round eruption of European debt crisis, Iranian oil embargo, and slowdown in China’s economic growth. If these risky events occur, it can lead to some surprising situations.
Iranian oil embargo will exert great impacts over global oil prices, while Europe’s debt crisis and a slowing Chinese economy will directly influence base metals trends. Miss Kong holds the view the February-April period is a probationary period as many European countries’ debts will be due. If Europe’s debt crisis erupts, all assets including copper will suffer plunges, and even gold cannot escape from the impact, said Miss Kong. If progress in European debt crisis continues to proceed slowly, investors will witness base metals falling to the lowest very soon.
China’s economic growth is still slowing, but market expectations on fine-tuning policy didn’t materialize, temporarily dispelling market optimism cash flows will ease and boost base metals. Kong said China will slow its economic growth in the next five or six years and will impact base metals prices over the medium and long term.
Kong will present more valuable viewpoints during the impending China Copper & Aluminum Summit, which can help participants learn the impacts that domestic and overseas macroeconomic environment can bring to base metals trends this year.
Kong Qingying, an expert of commodity investments, is invited as a special guest of this Summit. She joined in CICC in 2010 and is in charge of commodity research at present. She was awarded by Risk Magazine as the Best Precious Metals and Base Metals Analyst in 2009, and stayed with Goldman Sachs for five years before working for CICC.
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