If i can understand one thing about china, that is We are always in for a suprise.( may be too much of a statement !). I have often noticed analysts chasing flip floping policies.
Following is a summary of an article > China’s impressive commodity imports mask deeper complexities (msn.com)
- Record Imports in 2023:
- China experienced all-time highs in crude oil (11.28 million barrels per day), coal (61.8% increase), and iron ore (1.18 billion tons) imports, indicating rising demand.
- Crude Oil Highlights:
- Crude oil imports surged by 11%, reaching 11.28 million barrels per day in 2023.
- Growth is moderated by a modest 1.8% increase in domestic oil production and continuous crude stockpiling.
- Coal Surge and Changes Ahead:
- Coal imports saw a remarkable 61.8% increase in 2023 (474.42 million tons) due to electricity demand and temporary factors.
- Analysts anticipate a shift in 2024 as renewables rise, potentially reducing demand for thermal coal.
- Iron Ore Performance:
- Iron ore imports hit a record 1.18 billion tons in 2023, showing a 6.6% increase.
- Despite challenges in the property sector, the steel industry thrived.
- Outlook and Caution:
- Forecasts indicate sustained steel demand in 2024.
- Cautious optimism is advised considering sector complexities and potential shifts in energy dynamics.
and ultra long bonds > China weighs more stimulus with $139 billion of special bonds (msn.com)
Hope this adds value to discussion at this thread ?
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