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Commodity investors looking to China to reverse the severe rout in global metals markets may be disappointed, with Beijing unable to deliver the kind of investment splurge that powered past bull markets.
Authorities are mulling a plan to let local governments sell 1.5 trillion yuan ($220 billion) of special bonds in the second half, according to people familiar with the matter. This potential boost for infrastructure spending helped commodities pare some of their steep losses in recent weeks.