China’s imports of major commodities demonstrated both the possibility of an increase in 2023. And the fact that economic momentum needs time to develop.
The same is true with coal, particularly the coking coal needed to make steel as well as the thermal grade used to produce electricity.
The data, which was issued on Tuesday, shows that for the first 2 months. Crude oil imports totalled to 84.06 million tonnes, or 10.40 million barrels per day.
The official figure and Refinitiv’s estimate diverge by almost 940,000 bpd. Which is an exceptionally large disparity.
Imports of coal & iron ore showed symptoms of an economy rising from its now-abandoned zero-COVID policy.