China Commodities Juggernaut Rolls Into 2017 as Records Tumble
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The appetite for raw materials in the world’s biggest consumer keeps getting bigger.
China’s imports of crude oil and iron ore rose to records in 2016, while coal buying expanded for the first time in three years, according to government data released Friday. Growing domestic demand sent steel and aluminum exports down, while outbound shipments of oil products soared as the country sought to reform its refining industry and fuel specifications.