Palladium, Nickel Seen Gaining from China Consumption Shift

Source: Bloomberg, Glenys Sim (4/27/12)

"Aluminum, nickel, palladium and gold may benefit from China's shift toward consumption-driven growth from an economy fueled by investment, while agricultural products are set to lag behind, according to Barclays Capital."

Bloomberg, Glenys Sim

Aluminum, nickel, palladium and gold may benefit from China's shift toward consumption-driven growth from an economy fueled by investment, while agricultural products are set to lag behind, according to Barclays Capital.

Commodities with so-called strong links to rising living standards and changing tastes such as coffee stand to gain from the transformation, analysts led by Kevin Norrish wrote in a report dated yesterday. The growth in demand for steel, copper and zinc may slow as their intensity of use drops, they said.

Premier Wen Jiabao wants to tilt the world's largest user of base metals toward increased consumption and away from exports and capital spending. BHP Billiton Ltd. (BHP), the world's biggest mining company, said last month that the growth in China’s steel production is slowing as the economy shifts to focus more on consumers than large building projects.

"China's government is targeting both a reduction in average GDP growth and a change in its composition, moving towards a less investment-intensive, more consumption-orientated growth model," Norrish wrote, referring to gross domestic product by its initials. The planned shift "has major implications for future commodity demand". . .View Full Article

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