For now the rate hike will have mostly a psychological impact on the market. Investors will probably use this as a reason to push prices down before re-entering the market at lower levels.
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This quote is just one of 8 total Wang Zheng quotes in our collection. Wang Zheng is known for saying 'For now the rate hike will have mostly a psychological impact on the market. Investors will probably use this as a reason to push prices down before re-entering the market at lower levels.' as well as some of the following quotes.
Over the Lunar New Year period the LME (copper) rose above $5,000, so from the Chinese point of view they had to close the gap and so Shanghai copper rose.
The sell-off in oil damped demand for some metals yesterday in London and New York. Traders in China are worried there might be a chain reaction of funds selling metals to take profits.
In China, purchases from major consumers, including power cable makers, are still normal at this price level. Buyers are doing futures to hedge price swings and help reduce losses made on the spot market.
When spot prices hit 49,000 that affected consumption at first. But that was a month ago ... now people expect prices to pick up. Traditionally in March and April consumption is higher than in January and February.
This quote is just one of 8 total Wang Zheng quotes in our collection. Wang Zheng is known for saying 'For now the rate hike will have mostly a psychological impact on the market. Investors will probably use this as a reason to push prices down before re-entering the market at lower levels.' as well as some of the following quotes.