Steel prices eye a rebound on lower-than-expected China inflation and infrastructure boost – by Sagar_Dua24 Metals China Inflation PBOC Commodities
expenses due to already unsold inventories. The metal prices are expected to display a stellar recovery as the Chinese administration is announcing stimulus packages to boost infrastructure spending.
In addition to the $44 billion stimulus announced at June end, the administration has publicized another $4 billion in quotas for infrastructure spending. As the projected infrastructure spending will kick-start, prices of steel will witness a decent buying interest.Consumer Price Index A decline in China’s inflation will force the People’s Bank of China to sound dovish and trim the Prime Lending Rate further. And, more
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