By Charlie Zhu and Helen Sun, Bloomberg Markets Live reporters and strategists
Investors cheered China’s plan to curb excessive competition among businesses, selectively. Prices of some commodities and industrial stocks advanced after top leaders pledged at the start of this month to ease “disorderly” price competition and phase out outdated industrial capacity.
Steel rebar futures in Shanghai have risen almost 5% since then. Prior to that, they had fallen for four consecutive months, the longest such streak since 2022. Those of polysilicon, a raw material key to producing solar panels, have surged 26% in this period. The shares of solar energy firm Longi Green Energy rallied to a three-month high.
