China Jan-Feb exports, imports slump again
China's imports of iron ore and soybeans rose in the January- February period from a year earlier, while those of crude oil and copper fell, customs data showed on Tuesday.
China's exports in the January-February period again fell from a year earlier, customs data showed, while imports also decreased again and at a faster rate, reflecting a slowdown in the global economy and weak domestic demand. Exports in the two months were 6.8 per cent lower than a year before, beating a Reuters a poll that expected exports to decrease by 9.4 per cent. Imports were down by 10.2 per cent, missing the poll estimate by a large margin, which had predicted a 5.5 per cent drop.* Iron ore: Jan-Feb imports at 194 mt, up 7.3 per cent y/y* Copper: Jan-Feb imports at 879,000 tonnes, down 9.
"The year-on-year rise is in line with our expectation. Some miners shipped more volumes in middle to late December 2022 to catch up with their annual targets. And, this seemed to have been well reflected in the import number for January-February." "The March import volumes may be lower than the average of January-February, but a year-on-year increase is also expected.""We had expected copper imports to decline year-on-year in January-February with closed arbitrage. We are seeing copper demand picking up into March across most of the end-user sectors though largely seasonally."China is the world's biggest crude oil importer and top buyer of coal, iron ore and soybeans.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China Jan-Feb trade likely contracted again as global economy slowed - Reuters pollBEIJING : China likely again exported and imported less in January-February than a year earlier, backing policymakers' fears that a slowing global economy could drag on growth at home, a Reuters poll showed on Monday.Data for the period January-February are expected to show a 9.4 per cent fall in exports
Read more »
China Jan-Feb exports, imports slump againChina's exports in the January-February period again fell from a year earlier, customs data showed on Tuesday, while imports also decreased again and at a faster rate, reflecting a slowdown in the global economy and weak domestic demand.Exports in the two months were 6.8 per cent lower than a year before,
Read more »
China's Jan-Feb coal imports jump 71% on restock demandSINGAPORE : China's coal imports in the first two months of 2023 surged 71 per cent from a low base a year earlier as utilities replenished stocks in anticipation of greater demand after the country abandoned its zero-COVID policies. China, the world's largest coal consumer, imported 60.64 million tonnes
Read more »
China's Jan-Feb exports and imports slump furtherBEIJING : China's exports for January-February shrank by 6.8 per cent from a year earlier, while imports declined by 10.2 per cent, customs data showed on Tuesday. Analysts in a Reuters poll had expected exports to fall 9.4 per cent, after dropping 9.9 per cent in December amid cooling global demand.
Read more »