What China's Two-Speed Economy Means for Base Metals

Chinese base metals demand looks set to stay soft as property and construction weakness outweighs a booming high-tech export engine. Natalie Scott-Gray, StoneX Senior Metals Analyst EMEA & Asia, explains how China's two-speed economy is reshaping demand across the base metals suite. Scott-Gray works through what the July Politburo meeting signaled for commodities, why Beijing accelerated fiscal spending and infrastructure rather than launching major stimulus for property and construction, and how the 15th Five-Year Plan and the Carbon Peaking Action Plan tilt toward electrification and battery metals. She also weighs why softening China manufacturing PMI and non-manufacturing PMI readings keep near-term demand under pressure, even as copper and battery metals stay a medium-term focus. Discover Actionable Metals Insights with StoneX Market Intelligence: https://shop.stonex.com/products/stonex-essential-bundle?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_natalie_scott_gray&utm_content=share 0:00 China Steers the Metals Story 1:01 High-Tech Exports Break Out 2:02 A Two-Speed China Economy 2:26 PMIs Signal Deeper Weakness 3:13 Beijing Skips Big Stimulus 4:01 Metals Play the Long Game Like and subscribe for more financial market insights. #StoneX #NatalieScottGray #Copper #BaseMetals