Goldman Sachs noted that China's demand for major commodities has been growing robustly
China's demand for copper has increased by 8% year-on-year
Appetite for iron ore and oil in China has risen by 7% and 6%, respectively, exceeding Goldman's full-year expectations
The strong demand in China is attributed to growth in the green economy, grid development, and property completions
Despite challenges in the property sector, China's green economy has shown significant strength, leading to increased demand for metals like copper
Despite challenges in the property sector, China's green economy has shown significant strength, leading to increased demand for metals like copper
China's onshore solar installations in 2023 have equaled the total installations of previous years
China boasts an operating solar capacity of 228 GW, surpassing the rest of the world combined
China is on track to double its wind and solar capacity five years ahead of its 2030 goals
China's green copper demand surged by 71% in July compared to the previous year, driven by renewable energy projects, particularly solar
Recovery in China's manufacturing sector is also boosting demand for base metals like aluminum, and Goldman Sachs predicts continued demand growth for these metals