GREY:NEVDQ - Post by User
Post by
ZouZS3on Mar 09, 2021 4:14pm
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Post# 32755261
The more demand drops, the more bullish demand will be in C
The more demand drops, the more bullish demand will be in C
A warning shot has been fired across the bow of proponents of the view that commodities are entering a new super-cycle: Chinas imports of crude oil, iron ore, copper and coal in the first two month of the year look far from bullish, said Reuters columnist Clyde Russell. The first two months of 2021 saw imports unwrought copper of 884,009 tonnes, up 4.65% from the same period in 2020. But on a tonnes per day basis, the January-February imports are 14,980 tonnes, down from 16,530 tonnes in December and 18,710 tonnes in November. Demand growth is modest, and certainly nowhere near levels that would lend support to the narrative of a new China-led super-cycle, said Russell.