We review the implications of the announcements made at China’s recent NPC meeting, which saw the release of the 14th Five-Year Plan for economic development, for global metals and bulk commodity markets. Into H2 2021, China’s aim for more balanced growth after an investment-heavy 2020 may see a retracing of some year-to-date gains across industrial metals. Longer term, however, the country’s push for decarbonisation and rural revitalisation will help to underpin demand.

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Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/78DA76D6-10C0-4D12-BDF3-448B97A2B327.PDF