Overview

• China's commodities markets are facing overcapacity and weak demand, prompting anticipation of policy tweaks at the third plenum.
• Solar power sector struggles with excess capacity and grid issues, potentially leading to increased spending on infrastructure.
• Copper demand may rise if Beijing supports the grid and clean energy investments, despite recent price declines.
• Steel market remains vulnerable due to reduced housing demand, with potential benefits from public works spending.
• Oil refiners face challenges from China's shift to clean energy and possible tax reforms targeting independent refiners.