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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: RealMuLan who wrote (17090)	11/29/2004 3:49:07 PM
From: RealMuLan	Read Replies (1) of 116555

Metals market awaits China currency revaluation G. Chandrashekhar Mumbai Nov. 29 WILL the Chinese currency be re-valued any time soon and by how much? Renewed expectation of a revaluation in the Chinese currency Renminbi is not only currently engaging the attention of players in the metals market, but also fuelling speculation. The near-term premium in non-deliverable forwards on the RMB in offshore markets rose to its highest in more than a year last week, pricing in a one per cent rise in the RMB within a month and a near 6 per cent rise within a year, experts pointed out. Chinese metal consumers are seen holding off purchasing decision as much as possible at the moment. For instance, copper imports during October were down. thehindubusinessline.com

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