MNI BRIEF: China 2024 Oil Imports Down 1.9%
MNI (BEIJING) - China imported 47.8 million metric tonnes of crude oil in December, down from 48.5 mmt in November, as total inbound shipments finished the year declining 1.9% y/y, data from the General Administration of Customs showed on Monday.
Inbound shipments of copper ore and its concentrates reached 2.52 million tonnes last month, up from 2.25 million tonnes in November, bringing total import growth over January to December to 2.1% y/y, a deceleration from the 2.2% y/y during the first 11 months.
Coal imports from January to December increased 14.4% y/y, slower than the 14.8% growth during the first 11 months.
China could become the largest buyer of expanded U.S. energy production under Trump as some American companies have already started to purchase Chinese-made LNG port facilities, an advisor recently told MNI (See MNI: MNI INTERVIEW: China Should Offer To Boost US Industry-Advisor)