China's Property Sector Stimulus Plans Boost Metals Demand
AI Summary1 min read
TL;DR
China's property stimulus plans, including mortgage subsidies and tax rebates, may increase demand for metals like aluminum and copper. This has already led to price rises, with aluminum up 0.6%.
China is considering measures to stimulate its struggling property market, including mortgage subsidies and tax rebates, which could boost demand for metals such as aluminum, copper, and iron ore. The poor state of China's housing market has dented construction activity and weighed on domestic metals demand, but other sectors have picked up some of the slack. Metals prices have risen following the news, with aluminum up 0.6% to $2,818.00 a ton and iron ore futures steady at $104.40 a ton.