China Buying Metals for Reserve

Sunday, January 18, 2009 | posted by RedApple
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This news will be bullish for our long WTI versus UST trade. This is the first official comment from China this year regarding reserve accumulation in natural resources mirroring national interest. I may argue that it is probably a much better time for China to buy/accumulate natural resources since they are long cash and will have strong negotiating power in this weak global economy.

(Just in from Bloomberg).


BN 11:35 *CHINA TO BUY COPPER VIA `VARIOUS WAYS,' JIANGXI'S WANG SAYS
BN 11:33 *CHINA COPPER BUYING DEPENDENT ON TIMING, METHOD, WANG SAYS
BN 11:33 *CHINA `WILL BUY COPPER FOR RESERVES,' JIANGXI'S WANG SAYS
BN 11:29 *CHINA UNLIKELY TO BUY COPPER FROM DOMESTIC SMELTERS
BN 11:29 *CHINA COPPER PURCHASES NOW WOULD 'SUIT NATIONAL INTERESTS'
BN 11:27 *CHINA COPPER COMMENTS FROM JIANGXI COPPER'S WANG CHIWEI
BN 11:27 *CURRENT COPPER PRICES `ATTRACTIVE' FOR CHINA STATE BUYING
BN 11:26 *CHINA HAS `VARIOUS OPTIONS' TO BUY COPPER, INDUSTRY GROUP SAYS