China’s imports, exports rise in November, exceeding estimates
Chinese imports in November climbed by 6.7% year over year, opposing analysts’ estimates, which called for a drop of 1.3%. This was also the biggest growth since 2014. China’s imports of commodities such as iron ore, crude oil, coal and copper especially soared in November although the yuan considerably weakened.
Exports also posted an increase of 0.1% in November and stood above the analysts’ preliminary expectations of a 5% drop. Although there was an increase on a monthly basis, cumulative exports for the January-November period decreased 7.5% from the same period of last year while imports were down by 7.7% in the same period.
China posted a trade surplus of $44.61 billion in November when compared to $49.06 billion in October, below initial expectations of $46.30 billion.
It is reported that the Chinese economy appeared to be steadying on the back of new infrastructure projects launched by the government and the boom in the housing market. However, some analysts reportedly warned that a property boom could be reaching its peak and this might decrease demand for raw materials and that the country might also have to take some measures against potential tariffs on imports of Chinese products by president-elect Trump.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- PP, PE markets torn between firmer monomers and poor dynamics in Europe
- Peak season closes with modest PP, PE gains in China, except for LDPE’s strong stand
- India finally announces ADD on S-PVC imports: What’s in store for subject countries?
- Turkish PE players hunt for signs of a market bottom amid pending Nov offers
- Freight rates rise after prolonged slump; is this rebound here to say or just a dead cat bounce?
- India’s PVC price range narrows as low-end Chinese offers fade amid ADD speculation
- Slump deepens in European plastics recycling industry
- SE Asia’s PPH regains premium over China after 3 weeks
- Stats: China rapidly expands its share in SE Asia’s PP markets
- Vietnam’s import PE prices rebound over 2 weeks; but demand struggles persist