Goldman Sachs Says Demand for Copper, Oil Booming in China
Goldman Sachs has revealed that demand for commodities such as oil and copper in China is booming. The investment bank estimated in a recent note that contrary to its expectations, year-on-year demand for copper, iron ore and oil went up by 8%, 7% and 6% respectively. According to the report, the surging demand for major commodities in China is associated with a combination of property and grid completions as well as robust growth in the nation’s green economy. China has been a global leader in the nascent solar industry and installed a whopping 96.6 GW of solar energy capacity in…