Production of air-conditioners and other home appliances is ramping up in China. Citi says that is a good sign for the world's second-largest economy.
Citi says it's seeing a good sign for China's economy: Production of air-conditioners and other home appliances is ramping up in the country.
But for big ticket home appliances such as air-conditioners, refrigerators and washing machines, positive signs are emerging, analysts at the U.S. bank said in a report dated Thursday. The report said the production increase has implications for rising demand for important metals that go into the manufacturing the products."Stainless steel use is also highly skewed towards kitchen applications ," it added."Air conditioners are big consumers of copper and a strong pick-up in production should create demand for copper tubes as well."
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