Commodity imports show mixed picture
December 15, 2014 Category Foreign trade, Weekly
China’s November commodity imports show a mixed picture. Market expectation had been that the sharp drop in many commodity prices would boost imports, partly for stockpiling and partly to meet improving demand on the back of higher exports and domestic consumption. Crude imports rose to 25.41 million tons in November, equivalent to about 6.18 million barrels per day, up from 5.67 million barrels in October. Some of it was put in storage. November copper imports rose 5% from October to a seven-month high of 420,000 tons. However, imports of iron ore dropped 15.1% to 67.4 million tons in November from October. This was the second-weakest month this year as demand for steel softened due to slowing residential construction, coupled with a belief among steel mills that iron ore prices will fall further in the coming months. It seems that only those commodities being stockpiled for strategic reasons are showing growth, with the others losing steam due to a slowing economy, the China Daily reports.
- KURT VANDEPUTTE (UMICORE) APPOINTED CHAIRMAN OF THE BOARD OF THE FLANDERS-CHINA CHAMBER OF COMMERCE (FCCC)
- Webinar: “Knowing Your Chinese Partner” – May 26, 2021, 10 am – 12 am
- EMA starts rolling review of CoronaVac, WHO approves Sinopharm vaccine for emergency use
- The Global Times warns not to politicize the Comprehensive Agreement on Investment (CAI)
- Hainan to become biggest duty-free market in the world