When It Rains It Pours as China Unleashes Commodity Torrent... While the country’s
total exports are slowing in dollar terms,
shipments of steel, oil products and aluminum are reaching for new highs ...
...
Net
fuel exports surged to an all-time high of 2.22 million metric tons in November, 77 percent above the previous month, customs data showed.
Aluminum shipments jumped 37 percent to the second-highest level on record while sales of
steel products climbed 6.5 percent, taking annual exports above 100 million tons for the first time.
...
Chinese oil refiners are tapping export markets to
reduce swelling fuel stockpiles, particularly diesel.... The country makes about half the world’s steel ...
... The steel market is being overwhelmed with metal from China’s government-owned and state-supported producers ...
...
Low-cost supply from China in Europe prompted producer ArcelorMittal to reduce its profit forecast and suspend its dividend. India’s government has signaled it’s planning more curbs on steel imports while regulators in the U.S. are planning to lift levies on shipments from some Chinese companies.
It’s not all one-way traffic. Copper imports into the country, the biggest refined metal producer and user, surged to the highest in 22 months in November as traders sought to profit from cheaper prices in London and financing demand rose before the end of the year. China’s crude purchases climbed 3.8 percent and the nation bought 8.8 percent more iron ore.
(partes do artigo; bolds da minha autoria)
