China's imports of basic commodities are rising with the recovery of seasonal demand

China’s imports of basic commodities increased widely in August, with buyers ready to increase industrial activities that are usually associated at the end of the summer. Oil -imports, iron ore, copper and soybeans have increased annually, while indications of fuel imports used to generate electricity showed on Monday. Nevertheless, the general background on Chinese demand for raw materials remains fragile, as the latest data indicates major challenges ranging from surplus production capacity to shrinkage, to skirmishes with commercial partners, led by the United States. Economics indicators delayed on a large scale in July, while industrial activity remained in a shrinkage during August. Policymakers responded by referring to their intention to combat excessive competition in important sectors such as oil refinement and steel industry. The import of oil and iron has reached 49.5 million tonnes of oil, ie slightly higher compared to last year. China has strengthened the oil supply this year to take advantage of low international prices. After the end of the maintenance season, the refineries welcomed more shipping in August, despite the continued ambiguity of fuel markets due to the ongoing shift to electricity in the activities of the Chinese economy. Read more: The attention of China’s oil purchases amid excess expectations, the import of iron ore has only returned for 105 million tonnes this year. Steel production in China has declined in recent months, and the latest decline has come with the aim of ensuring a clear atmosphere during the military parade held in Beijing last week, which contributed to raising prices and profit margins. This is reflected in improving the profits and support of factories for their purchases of raw materials. But if the government manages to impose sustainable production cuts, it will eventually lead to a decrease in the demand for iron ore and the undermining of prices and imports. Copper mutation has increased the import of copper concentrations to 2.76 million tonnes, which is the second highest level ever, driven by increasing consignments from Indonesia. China’s demand for buyer has increased due to its expansion on the one hand and the demand associated with the activities of the green economy on the metal on the other. On the other hand, unanimous copper checks and its products dropped at 425 thousand tonnes to the lowest level in 6 months, but they remained slightly higher than last year’s levels. Also read: The price of copper stabilizes after the expectations of the US interest reduction have been reinforced. Coal shipping has reached their highest levels this year, but they are still lower than 2024 levels. Imports were influenced by local production levels of record and poor industrial demand and the rapid distribution of renewable energy sources. Similar factors affected the import of natural gas, although it was also reached in 11 months in August. Agricultural imports have risen strongly as the import of soybeans reached the highest level in three months, as the Mills continued to store the Brazilian offer of the falling purchases of the United States. The import of plant oils as well as the highest levels since January 2024, while importing meat remained above 500 thousand tons for the sixth consecutive month.