Chinese Commodity Imports Mostly Tipped to Weaken Further

Chinese imports of nearly all commodities, but particularly industrial metals, should ease further in the next few months because of slowing economic growth, especially industrial and construction activity, according to Capital Economics. Imports of unwrought copper, copper ore and iron ore fell for a third consecutive month in June. “This may be in part due to high prices, but is probably also down to waning momentum in industry and construction,” says Capital Economics. A slight fall in oil imports also appeared to be linked to weaker demand, it says. Coal imports were higher, “possibly as part of efforts to rebuild stocks” as safety restrictions curbed domestic output.

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