Thursday, March 12, 2009
The metals rally driven by China over the last week or so has subsided, and stockpiles are starting to rise somewhat again as reports that we have not reached a bottom yet are growing louder. Out of China industrial output is down, retail sales were down more than expected and we are not seeing a quick response to the methods the Chinese government implemented with the State Reserve Bureau and through its energy and tariff policies toward its smelters.
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