China lifts gloom even if recovery is months away

China is the world’s biggest user of metals like steel and copper, which are highly contingent on construction.

BEIJING: China’s latest efforts to support the economy are lifting the gloom around commodities markets although a sustained recovery in demand is probably still months away.

Beijing’s twin announcements to deal with its biggest obstacles to growth, a real estate market in crisis and crushing virus controls, have fanned hopes that the government is turning its attention to lifting the economy out of the funk that has persisted for over a year. A thawing in United States relations has also lifted sentiment.