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今年夏天，中國散戶投資者涌入股市為全球市場敲響了警鐘。如今，相同的情況正在大宗商品市場上演，金屬成了押注中國經(jīng)濟放緩的首選工具。
11月，中國的投資基金在上海期貨交易所(Shanghai Futures Exchange)競相交易，使全球銅價跌至6年低點、鎳價跌至10年低點。
隨著中國需求刺激的金屬價格漲勢告終，此輪價格波動凸顯了中國對全球金屬價格的影響力。大宗商品價格下滑打擊了全球礦商的股價——上周五英美資源公司(Anglo American)股價跌至創(chuàng)紀錄低點——以及智利等礦產(chǎn)國的財政收入。
這還導(dǎo)致中國金屬生產(chǎn)商宣布減產(chǎn)。據(jù)路透社(Reuters)報道，上周六，中國9家大型銅生產(chǎn)商同意了2016年削減精銅產(chǎn)量逾20萬噸的初步計劃。
“他們推動大宗商品市場價格下跌的方式，與他們推動中國股市大漲的方式差不多，”倫敦一名銀行人士稱，“這讓我大開眼界——這些市場的重要性到底有多大。”（中國進出口網(wǎng)）
Over the summer the surge of Chinese retail investors into equities alarmed global markets. Now the same is happening in commodities, as metals become a favourite tool to bet on a slowing Chinese economy.
Investment funds in China have piled into trading on the Shanghai Futures Exchange this month, sending global prices for copper down to a six-year low and nickel to a 10-year low.
The price moves highlight China’s influence on global metals prices as the boom that was spurred by the country’s demand comes to an end. Lower commodity prices have hit shares in global miners, sending Anglo-American to a record low on Friday, as well as revenue in producing countries such as Chile.
It has also led producers in China to announce cutbacks. On Saturday, nine large copper producers in the country agreed an initial plan to cut refined metal production by more than 200,000 tonnes in 2016, Reuters reported.
“Much the same way they leapt on the Chinese equity market on the way up they’ve leapt on [the] commodities market on the way down,” one banker in London said. “It’s been an eye opener for me — how much weight those markets actually have.”
