Caixin
Nov 16, 2022 01:49 PM
ECONOMY

China Lifts Gloom Around Commodities Even If Recovery Is Months Away

A worker walks through a hot-rolling workshop at Baowu Steel’s Baoshan production facility in Shanghai on Sept. 16. Photo: Bloomberg
A worker walks through a hot-rolling workshop at Baowu Steel’s Baoshan production facility in Shanghai on Sept. 16. Photo: Bloomberg

(Bloomberg) — China’s latest efforts to support the economy are lifting the gloom around commodities markets although a sustained recovery in demand is probably still months away.   

Beijing’s twin announcements to deal with its biggest obstacles to growth — a real estate market in crisis and crushing virus controls — have fanned hopes that the government is turning its attention to lifting the economy out of the funk that has persisted for over a year. A thawing in U.S. relations has also lifted sentiment.

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