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China’s Crude Oil Imports Climb From Lowest Level in Four Years

  • Inbound iron ore shipments edge higher despite steel headwinds
  • Natural gas imports decline as international prices skyrocket
Bloomberg business news
Oil Still Set to Top $120 by Year-End: Energy Aspects

China’s imports of commodities in July offered some tentative signs of a demand recovery after the sharp slump earlier this year due to stringent Covid-19 restrictions and property woes.

Inbound shipments of crude rose from the lowest in four years to 37.33 million tons as travel and transportation activity improved, according to government data released Sunday. Year-to-date volumes are still 4% lower, however. Iron ore imports also crept higher despite headwinds in the steel industry.