Guotai Asset Management says China nonferrous metal selloff driven by rate fears, not fundamentals

• Guotai Asset Management flagged a sharp selloff in China’s nonferrous metals shares, driven by rising global rate expectations, oil-led inflation fears, copper tariff uncertainty.
• US August PPI rose 5.4% year-on-year, lifting market pricing for a September Fed hike to 70%.
• Brent crude neared USD 110 a barrel, reinforcing inflation stickiness, pushing yields higher, pressuring gold.
• Guotai kept a constructive longer-term view on gold, citing accelerating central-bank buying, weaker dollar reserve share, limited further hawkish repricing.
• Copper fundamentals still supportive on tight mine supply, potential weather-related disruptions, expected inventory drawdowns, despite near-term volatility into US August CPI at 20:30 Beijing time.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Guotai Asset Management Co. Ltd. published the original content used to generate this news brief on September 11, 2026, and is solely responsible for the information contained therein.