China releases state reserves to ease overheating
LEE Eun Young +65 6682 3708; email@example.com
Duncan CHAN +852 36684178; firstname.lastname@example.org
China’s release of state reserves and US tapering hit metal prices
• China to release state reserves for key metals in a bid to cool down prices
• Talks of US tapering and US dollar gains are also negative for metal prices
• LME and SHFE metal prices have dipped, an inevitable normalisation from the frenzy
• Recommend staying on the sidelines until prices stabilise; no changes to our view and forecasts.