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Location:Home > Economic and Trade Info > Market Survey
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| China's crude, iron ore imports hit record highs in July |
BEIJING, Aug. 12 (Xinhua) -- China's imports of iron ore and crude oil hit record highs in July due to strong domestic demand, said Wednesday's China Daily.
The newspaper said despite that overall trade showed a steeper decline over the same period last year, imports are likely to grow and commodity prices expected to rise further. The country's growing appetite for overseas goods will considerably benefit resource-rich regions such as Latin America, Africa and Australia.
Oil imports climbed by 18 percent to 19.6 million tonnes from a month ago, and iron ore also rose by 5 percent to 58.1 million tonnes. China spent a combined 13.8 billion U.S. dollars on the two commodities, 15 percent of the total imports.
China's 4-trillion-yuan stimulus package has led to growing consumption of oil and iron at higher prices, said the newspaper.
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Source:xinhuanet |
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