The world’s largest consumer of natural resources, China, did not influence prices or volumes. As per data on commodity trade for 2022.

The shipments of natural gas and oil, which fell by 0.9% & 9.9%. Accordingly, in 2022 compared to the previous year, have been the key commodities that were most clearly weak.

Commodity Markets Outlook

However, the last quarter in 2022, the pattern for imports of oil and exports of goods changed.

Major Current Market price

It is expected to be considerably less than the current market price of $23 per mm Btu on delivery of LNG-AS to north Asia .

It’s also important to note that in the first eleven months of 2022. China purchased around 700,000 barrels per day more than what it refined.

Coal, iron ore & Base Metals

Commodities such as iron ore which can be more simply and swiftly procured are likely to react to China’s reopening more speedily than other commodities.

Overall, China’s reopening is good for its demand for commodities. But it’s doubtful that the reality will be as simple and sure as the industry seems to be hoping.