China Sets New Records for Gobbling Up the World’s Commodities

12 Jan 2018   China

China’s 2017 imports of oil to iron ore and soybeans increase Demand likely to keep up steam as economic growth persists China continues to gobble up the world’s commodities, setting new records for consumption of everything from crude oil to soybeans. In a year of flux marked by industrial capacity cuts, environmental curbs and financial deleveraging, demand for raw materials has continued to grow in the world’s biggest consumer, helping drive a second annual gain in global commodity returns. The Bloomberg Commodity Index was up 0.2 percent at 9:55 a.m. London time, climbing for a fourth day. The gauge of returns from raw materials rose 0.8 percent last year after advancing 11.4 percent in 2016. As President Xi Jinping consolidates power behind an economy that may have posted its first full-year acceleration since 2010, there are few signs of the Chinese commodity juggernaut slowing as it rolls into 2018. […]

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