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Rise in China commodity imports may be misleading

The sharp rise in China’s commodity imports last month could be taken as a sign that underlying demand growth is undergoing a renewed acceleration. But given that this is just one month’s data, and that other indicators point to a further softening in demand from commodity end-users, we are sceptical. In view of the wider interest, we are also sending this Commodities Overview Update to clients of our Metals Service.

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