Abridged: China's Cooling Property Market May Curb Demand - 0 views
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“A slump in China’s property market is negative for metals demand,” Yang Jun, an analyst at Hongyuan Futures Co., said from Beijing today. “Those who buy houses far from the city center tend to buy cars as well, so it’s not just copper demand from the construction industry that will go down.” China’s property prices climbed at the slowest pace in six months in July, the statistics bureau’s newspaper, China Information News, reported today. Regulators have ordered banks to conduct more stress tests to gauge the effect of a property value drop of as much as 60 percent, raising concerns that prices have further to fall.