Commodities Overview

Commodities Update

14 January, 2019

Oil bucks the negative trend in China’s trade data

China’s commodity import volumes were generally weak in December. Admittedly, oil imports rose strongly but this was probably opportunistic buying on the back of the slump in price rather than a sign of strong domestic demand. Indeed, given the slowdown in the economy, we think industrial commodity imports will remain subdued in the coming months.

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