Global S&T Development Trend Analysis Platform of Resources and Environment
CHARTS: Mining is riding out US-China trade war | |
admin | |
2019-09-18 | |
发布年 | 2019 |
语种 | 英语 |
国家 | 国际 |
领域 | 地球科学 |
正文(英文) | ![]() “Grasp revolution, increase production, relentlessly strike at imperialism, revisionism and reactionaries!” Image: chinaposters.net
A new report by BMO Global Commodities Research suggests that while overall Chinese trade is struggling — looking beyond headline figures, mining firms have few reasons to worry. US trade is in freefall and total Chinese imports may be down 5% compared to last year but, says BMO, imports of raw materials and ores “continue their seemingly perpetual upward trend.” China’s iron ore purchases in August totalled just under 95m tonnes, up 4.2% from July and 6.2% from last year, customs data showed, marking the highest level of imports since January 2018.
Iron ore imports are set to reach another record in 2019, with annualized shipments running at 1.12 billion tonnes, despite the fall in output following the deadly dam burst in Brazil in January. Similarly, China’s imports of copper concentrate are up 10.8% in the first eight months of the year compared to same period in 2018. Unrefined copper imports are running at an annualized rate of 21.4 million tonnes, on course to handily beat 2018’s record 19.7 million tonnes. The strong performance comes despite zero growth in global copper mine supply. Imports of bauxite, the primary ore for manufacturing aluminium, are up by more than 30% year to date and and nickel ore shipments to China have expanded by 15% in 2019. BMO points out that even the coal trade is buoyant, despite the many import restrictions placed on the fuel by Beijing.
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来源平台 | Minging.com |
文献类型 | 新闻 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/219516 |
专题 | 地球科学 |
推荐引用方式 GB/T 7714 | admin. CHARTS: Mining is riding out US-China trade war. 2019. |
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