Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CHINA DATA
China imports for August were just positive at 0.5%y/y, against a 2.5% forecast and 7.2% prior. The trend for imports has barely been positive in the past 12 months, a sign of weak domestic demand conditions.
- In terms of commodity import volumes, trends were mixed in m/m terms. Crude jumped noticeably from July levels, but remains negative in y/y terms. The trend has also been soft, see the second chart below. Coal imports were down m/m, but have had a better trend in recent months (see the first chart).
- Iron ore imports were down m/m, but are still elevated in level terms. Arguably downside risks are prevalent for this commodity given elevated iron ore inventories onshore and poor property dynamics. Still, our policy team notes steel demand may pick up in the coming months.
- Copper imports rose, as did LNG imports, although the trend around both commodities has been more weaker in recent months.
China import volumes y/y% 3-mth moving average
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok