September Chinese Trade Data
Coal, Grain, Iron Ore
September saw Chinese iron ore imports reach a year-to-date high of 86.1 Mt, up 1.4 Mt year-on-year and just 0.7 Mt short of the all-time high in December last year, according to preliminary customs data. This took imports in the 3q15 to a record quarterly high of 246 Mt. Moreover, China's steel exports recorded a monthly all-time high of 11.3 Mt in September, up 2.7 Mt year-on-year and almost 1.0 Mt above the previous peak in January. Coal imports fell by 3.4 Mt year-on-year to 17.8 Mt, continuing the trend which has seen imports fall annually for 15 months in succession. As a result, the January-September is 67 Mt below the same period last year at 157 Mt. Finally, soyabean imports into China last month were 7.3 Mt, up 2.2 Mt on the same month last year, which took imports in the first nine months of the year to 59.6 Mt, compared with 52.7 Mt in the corresponding period last year.