Chinese Trade Data for May
Coal, Grain, Iron Ore
Chinese iron ore imports climbed to a four-month high of 94.1 Mt in May, up by 2.6 Mt year-on-year, customs data show. At 447.5 Mt, imports in the first five months of the year were 2.7 Mt higher than the same period in 2017.
The country’s coal imports were almost unchanged from April in May at 22.3 Mt, up by 0.1 Mt year-on-year. However, strong growth in the in the 1q18, when cold weather and tight domestic gas supplies boosted demand for coal imports, meant January-May imports were up by 8.4 Mt at 120.0 Mt.
By contrast, after softening in April, Chinese soyabean imports rebounded to a ten-month high of 9.7 Mt in May, slightly above the year-ago level. This was consistent with strong export volumes reported from Brazil. Nevertheless, January-May shipments were still down by 1.0 Mt on the same period in 2017 at 36.2 Mt.