Tighter China loans may cut copper,aluminium demand

Newswire

By Polly Yam HONG KONG, Aug 26 (Reuters) - China's move to tighten bank credits is likely to cool down the hot property and car sectors, slowing growth in demand for copper, aluminium and steel, traders and analysts said on Tuesday. China's central bank said on Saturday it would raise reserve requirements for banks and other deposit-taking institutions to seven percent from six, effective September 21. The move may drain 150 billion yuan ($18 billion) from commercial lenders. "It will ...

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