- Posted September 30, 2013 by
Hong Kuang Commodities: China's commodities imports fall
Hong Kuang Commodities Hong Kong Blog Reviews
China's imports of crude oil, iron ore, copper and soybeans fell in August from July's record highs, but shipments stayed at elevated levels as manufacturing activity in the world's second-largest economy gains pace.
Headline trade data showed China's overall imports and exports in August were stronger than expected and have sustained the upward trend since July, adding to evidence that the world's top commodity buyer may have avoided a sharp slowdown.
China is showing signs of a steadying economy after growth slowed for nine of the past 10 quarters, with robust production from steel mills, refineries, power plants and smelters helping to boost consumption of raw materials.
"Imports in August may have slipped from a month ago, but they are still at very high levels, which is a reflection of strong underlying demand as the economy recovers," said Zhang Yu, an analyst at Yongan Commodity Futures.
Read more related articles here: