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Industrial Metals Monthly: Dim global economic growth clouds metals outlook
Prices for industrial metals remained mostly volatile in the first half of the year amid an uneven economic recovery in China. Beijing has set a cautious growth target of 5% this year, the lowest in decades. In the second quarter, the economy added 6.3% compared with the same period last year, when Shanghai and other big cities were in strict lockdown, but growth was just 0.8% in quarter-on-quarter terms. Last month’s data releases offered new evidence that China’s overall economic momentum was weak at the start of the second half of the year, but have also raised hopes of more government stimulus measures as the ... (full story)