Metals prices have rallied off six-year lows this week on hopes that Chinese producers will cut output in the face of low prices. Moreover, Bloomberg reported this week that Chinese authorities are weighing state purchases to support prices near the lowest in years. Bloomberg also reports that Chinese regulators are also considering a request from the association to probe short-selling in metals.
China: Supporting markets
According to Bloomberg and the Financial Times, Chinese nickel producers are expected to meet this week to decide upon output cuts, after a group of 10 zinc smelters last week announced they would cut production while the China Nonferrous Metals Industry Association has reported asked China’s National Development and Reform Commission to buy up stocks of excess metal.
But if...
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