05.03.2014 - Commodities’ base is crumbling
Commodity bulls live and die by metrics of Chinese demand. So the analytical folks at Sanford C. Bernstein reviewed the scope of that demand through another, less-used indicator: China’s completion and announcement of infrastructure projects. Big-ticket projects such as nuclear plants and high-speed rail that took off during Beijing’s stimulus splurge to fend off the financial crisis are winding down. The appetite to replace these with similar-sized projects is waning, Bernstein’s Michael Parker says. New ventures coming up are mostly smaller scale, such as subway tracks and electrical transmission lines...............................................Full Article: Source
Print