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China’s mixed commodities imports data shows demand revival absent

Posted on 11 August 2014

China’s imports of iron ore and soybeans maintained their upward trajectory in July but shipments of crude oil, copper and coal dropped, underscoring the relatively sluggish domestic demand in the world’s second-biggest economy. Copper shipments fell 2.9 percent compared to June, coal imports dropped 8.1 percent and crude oil imports slid 1.1 percent to their lowest daily rate since March, but July deliveries of iron ore surged 10.7 percent and soybeans rose 17 percent on the month, customs data showed on Friday.
The rise in imports of both iron ore and soybean, however, was attributed by analysts to opportunistic buying on favourable price moves, with subdued domestic demand seen potentially driving a surge in the stockpiles of both the commodities……………………………………..Full Article: Source


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