Slumping prices saved China more than US$160 billion on its imports of commodities such as oil, iron ore, coal and copper last year, official figures showed on Wednesday.
Slowing growth in the world’s second-largest economy has hammered global raw materials prices, sending shockwaves through resource-rich producer countries from Australia to Zambia. But the falls have proved a boon to China itself, which is reportedly taking advantage of the low costs to stockpile oil.
The average price of China’s oil imports plummeted 45.3% in 2015 on the previous year, Customs spokesman Huang Songping said, with volumes rising 8.8% to 335.5 million tonnes according to the Customs website.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
Slowing growth in the world’s second-largest economy has hammered global raw materials prices, sending shockwaves through resource-rich producer countries from Australia to Zambia. But the falls have proved a boon to China itself, which is reportedly taking advantage of the low costs to stockpile oil.
The average price of China’s oil imports plummeted 45.3% in 2015 on the previous year, Customs spokesman Huang Songping said, with volumes rising 8.8% to 335.5 million tonnes according to the Customs website.
No comments:
Post a Comment