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On September 15th, data from the National Bureau of Statistics showed that in August, the year-on-year decline in new residential property prices in first-tier cities was 0.9%, a decrease of 0.2 percentage points compared to the previous month. Specifically, prices in Beijing, Guangzhou, and Shenzhen fell by 2.3%, 1.9%, and 2.3% respectively, while Shanghai saw an increase of 3.0%. In second- and third-tier cities, the year-on-year declines in new residential property prices were 2.7% and 4.1% respectively, both narrowing by 0.1 percentage points. In August, the year-on-year decline in existing residential property prices in first-tier cities was 2.7%, a decrease of 1.0 percentage point compared to the previous month. Specifically, prices in Beijing, Shanghai, Guangzhou, and Shenzhen fell by 3.5%, 0.8%, 3.8%, and 2.7% respectively. In second- and third-tier cities, the year-on-year declines in existing residential property prices were 4.9% and 5.6% respectively, both narrowing by 0.2 percentage points.New Residential Housing Prices: 1. Beijing: August new residential housing prices -0.2% month-on-month (previous value -0.3%), -2.3% year-on-year (previous value -2.3%). 2. Shanghai: August new residential housing prices +0.4% month-on-month (previous value +0.2%), +3.0% year-on-year (previous value +3.0%). 3. Guangzhou: August new residential housing prices +0.1% month-on-month (previous value +0.1%), -1.9% year-on-year (previous value -2.2%). 4. Shenzhen: August new residential housing prices +0.2% month-on-month (previous value +0.2%), -2.3% year-on-year (previous value -2.9%). Second-hand Residential Housing Prices: 1. Beijing: August second-hand residential housing prices -0.1% month-on-month (previous value 0.0%), -3.5% year-on-year (previous value -4.5%). 2. Shanghais existing home prices in August increased by 0.3% month-on-month (previous value +0.3%) and decreased by 0.8% year-on-year (previous value -2.0%). 3. Guangzhous existing home prices in August remained unchanged month-on-month (previous value +0.4%) and decreased by 3.8% year-on-year (previous value -4.7%). 4. Shenzhens existing home prices in August increased by 0.1% month-on-month (previous value +0.2%) and decreased by 2.7% year-on-year (previous value -3.6%).National Bureau of Statistics: Beijings second-hand housing prices in August decreased by 0.1% month-on-month (previous value +0%) and decreased by 3.5% year-on-year (previous value -4.5%).According to the National Bureau of Statistics, the price of second-hand residential properties in Shenzhen rose 0.1% month-on-month in August (up 0.2% in the previous month) and fell 2.7% year-on-year (down 3.6% in the previous month).September 15th - The 2026 China Carbon Market Conference was held in Wuhan, Hubei Province this morning, and the "National Carbon Market Development Report (2026)" was released at the conference. Reporters learned that as of the end of August, the national carbon emission trading market had accumulated transactions exceeding 900 million tons, with a transaction value exceeding 60 billion yuan. The national carbon market has grown from nothing to a significant stage, playing a crucial role in promoting the achievement of carbon peaking and carbon neutrality goals.

Gold is in a holding pattern, whilst Copper declines due to China Jitters

Skylar Williams

Aug 19, 2022 11:20

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Gold prices held inside a limited range on Thursday despite inconsistent signals regarding U.S. monetary policy, but Copper prices fell after a profit warning from a big Chinese property developer heightened demand concerns.


Spot gold advanced 0.2% to $1,765.65 per ounce at 22:51 ET (02:51 GMT), while gold futures rose 0.15 percent to $1,778.75 per ounce. In contrast, both assets traded predominantly between $1,750 and $1,810 throughout the previous two weeks.


Gold prices dipped on Wednesday after the minutes of the Federal Reserve's July meeting revealed that the majority of members supported additional rate hikes to battle inflation. Although the central bank expects to reevaluate its rate of tightening in the future, it has indicated that it is likely to continue raising interest rates at a quick pace until inflation is well inside its 2 percent target range.


The dollar index and Treasury rates rose after the minutes were released. Last month, the Federal Reserve raised interest rates by 0.75 percent, and markets are currently divided about whether rates will rise by 0.5% or 0.75 percent in September.


Even if last week's data suggested that U.S. inflation had likely peaked, Fed members stated that it was still much too high to consider relaxing monetary policy.


The pricing of the majority of metals was adversely affected by the dollar's strength. Platinum prices fell 0.4% while silver futures fell 0.6%.


Copper prices fell 0.2% after one of China's leading property developers, Country Garden Holdings Company Ltd (HK:2007), warned of a significant earnings reduction due to a weakening real estate market.


A prolonged slowdown in China's real estate market is likely to have a negative impact on the country's overall economic activity, which could impact commodity demand. The nation is the largest copper importer in the world.


On Thursday, nickel prices decreased by 1.2%, while zinc futures decreased by nearly 4%. Similarly, the trend for iron ore prices is downward.

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