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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: heinz44	10/30/2007 12:37:29 PM
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2. CHINA China recently cut its exports of molybdenum and tungsten. These export moves are only the tip of the iceberg. China has also reduced exports of numerous other commodities as it builds its domestic infrastructure and as it begins to develop its retail economy. Xinhua reported on Saturday that Chinese retail sales have increased 15.9% YOY for 9 months. They now total 6.38 trillion yuan (US$851 billion). They now make up 37% of GDP growth. China now has 5 of the world’s 10 largest companies. Both China’s export sector and her nascent domestic sector appear to be “working” well. China also is beginning to allow the Yuan to appreciate. She is now willing to deal with its record trade surplus and has allowed the Yuan to appreciate the most in 2 years. But the impressive news out of China is that the increase is retail sales (partly due to inflation) is strong in both urban and rural settings. The growth rate in consumer spending is 2.4% higher than last year according to China’s National Bureau of Statistics. Retail sales increased 17% YOY in September alone according to the research organization. As I have mentioned, China puts 14,000 new cars on the road each day. These are not for export! The auto sales potential in China is massive. Yesterday Bloomberg reported from China that world demand for tungsten is expected to increase by 17% THIS YEAR. The China Tungsten Industry Association said that consumption will rise to 70,000 metric tons from 60,000 tons last year. China will consume 25,000 tons or 35.7% of world consumption according to Kong Zhaoqing, the association deputy Chairman. I expect the percentage to increase. It is no wonder that China is restricting so many commodity exports. M A Berry

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