Natixis Metals Review: It's nice to be in control
For some years now, China has dominated the base metal markets, making up 40 per cent or more of global supply and demand. During the period of rapid growth up to early-2011, China’s influence on base metal prices was heavily pro-cyclical, exacerbating rallies and compounding slumps between 2005 and 2011. Throughout this period Chinese authorities looked forward to a time when their country’s influence on base metal prices might become more of a moderating factor than a destabilizing factor. Since 2011, this desire has gradually turned into a reality.