Goldman: China's oil and copper demand rising

Goldman Sachs said in a recent note that China’s demand for many key commodities is growing at “strong rates.” The investment bank observed that China’s copper demand rose 8 percent year-on-year, while appetite for iron ore and oil rose 7 percent and 6 percent respectively, all of which beat Goldman’s full-year expectations. The strength in demand was largely due to a combination of strong growth from the green economy, energy and real estate completions, the Goldman report observed. China’s green economy has shown significant strength so far this year, the investment bank noted, leading to increased demand for metals associated with the green transition, such as copper, as China’s struggling real estate sector struggles to recover.