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China May copper imports fall 10.9% on prior month: customs

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BEIJING : China’s unwrought copper imports fell 10.9% from the previous month to 361,000 tonnes in May, according to official customs data, in a bearish sign for economic growth in the world’s top consumer of the metal. Arrivals of unwrought copper, including anode, refined and semi-finished copper products were down from 405,000 tonnes in April and down 23.2% from 470,000 ... Read More »

China says its May trade surplus was $41.65 billion, significantly more than expected

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China said on Monday its overall trade surplus was $41.65 billion last month, significantly more than expected as the trade impasse between Washington and Beijing drags on. Economists polled by Reuters had expected China to post an overall trade surplus of $20.5 billion in May. The larger trade surplus came as the country’s dollar-denominated exports surprisingly increased last month, while ... Read More »

China May copper imports fall 10.9% on prior month: customs

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BEIJING : China’s unwrought copper imports fell 10.9% from the previous month to 361,000 tonnes in May, according to official customs data, in a bearish sign for economic growth in the world’s top consumer of the metal. Arrivals of unwrought copper, including anode, refined and semi-finished copper products were down from 405,000 tonnes in April and down 23.2% from 470,000 ... Read More »

Chinese-Russian Trade Up 4% In January-May 2019 Reaching $42.5Bln : Chinese Customs

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BEIJING : Trade between China and Russia totaled almost $42.5 billion in the first five months of 2019, marking a 4 percent increase year-on-year, data published by the Chinese General Administration of Customs showed on Monday. Chinese exports to Russia contracted by 0.7 percent in January-May compared to 2018, falling to $18.2 billion. At the same time, China imported $24.3 ... Read More »

Shanghai customs send back over 7,000 tonnes of waste in May

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SHANGHAI, : Customs in eastern China’s Shanghai ordered the return of 7,056 tonnes of suspected smuggled solid waste to where they originated in May. Most of the waste was undeclared and overdue waste, said the city’s customs Monday. For example, 103 tonnes of old cardboard from Australia that was sent back in five containers in May had been piled high ... Read More »

China clears import of frozen durian from Malaysia

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FROZEN whole durian from Malaysia has been cleared for import into China, reported China Press. The daily cited a statement issued by the General Administration of Customs of the People’s Republic of China (GACC) on May 30 which said that the imported fruits must comply with specific guidelines and standards. Among the requirements are that durian pulps must be kept ... Read More »

IF CHINA REALLY WANTS TO RETALIATE, IT WILL TARGET APPLE

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Apple has a Huawei problem. Of the myriad issues raised by the evolving and intensifying US-China trade Cold War, the knock-on effects on Apple have been perhaps least appreciated. And not just Apple, of course, but a slew of American companies that have both shifted production to China over the past two decades and, more vitally, tapped into Chinese middle-class ... Read More »

China’s Customs rejects steel scrap from South Korea

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East China’s Ningbo Customs District refused to clear nearly 200 tonnes of steel scrap materials shipped from South Korea – returning the scrap to its despatch point – as over a half of the weight of the consignment was actually soil rather than scrap, according to the recent official media release of the General Administration of Customs China (GACC). Ningbo ... Read More »

China’s April imports of US coking coal rise five-fold

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China’s imports of US coking coal rose more than five times in April from a month earlier, customs data showed, on traders’ earlier bets that trade tensions between Beijing and Washington were easing. Shipments of coking coal from the United States rose to 308,789 tonnes last month, up from 60,585 tonnes in March, according to data released by the General ... Read More »

King Abdul Aziz Port receives largest container ship in Saudi history

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After making history at Port Khalifa in Abu Dhabi yesterday, Cosco Shipping’s Solar container ship has docked in Dammam’s King Abdul Aziz Port, becoming the largest container ship ever to make port in Saudi Arabia. Solar is 400 meters long, 59 meters wide and has a draft of 16 meters, but what makes it a record-breaker is its immense cargo ... Read More »

China Chugs Iranian Oil Ahead of U.S. Sanctions Return

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China’s inflow of Iranian crude oil surged to a five-year high in April as the world’s biggest oil importer engorged itself ahead of the return of U.S. sanctions against the Middle Eastern country earlier this month. Oil imports from Iran hit 3.24 million tons for the month of April, up 41% year-on-year, according to data from China’s General Administration of ... Read More »

China’s April LNG supply from Australia hits record high, up 61% on year

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China imported a record high 2.79 million mt of LNG from Australia in April, up 61.3% year on year, latest customs data showed, amid growing domestic gas consumption, rising Australian LNG export capacity and trade tensions between China and the US. “Chinese LNG imports are growing and without a significant influx of US LNG, they are likely going to look ... Read More »

China’s Saudi Oil Imports Jumps After Waiver On Iranian Oil Sanction Expires

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China’s purchase of Saudi crude oil jumped 43 percent on the year in April to an average 1.53 million barrels per day compared to 1.07 million barrels per day in April last year. Independent refiners continued to import more on Saudi as the sanctions on Iranian oil continues. Imports of Saudi and Russian oil increased after the waivers to purchase ... Read More »

China’s crude oil imports from Saudi Arabia up 43%

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BEIJING: China’s crude oil imports from Saudi Arabia rose 43 percent in April, making the Middle Eastern OPEC kingpin once again the top supplier to the world’s second-biggest economy, boosted by demand from new private refiners. Saudi imports grew to 6.30 million tons, or 1.53 million barrels per day (bpd) on a daily basis, compared with 1.07 million bpd in ... Read More »

Delhi may gain from US-China trade war by slashing own tariffs

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NEW DELHI: A high level advisory group set up by the commerce ministry has advocated reducing India’s overall tariffs to benefit from the ongoing trade war between the US and China. This could help the Narendra Modi government formulate an effective trade policy in its second innings. “A knee-jerk, tit-for-tat approach on tariffs may not be the soundest one to ... Read More »

China’s April soybean imports from US up 15.9pc m/m, Brazilian imports soar

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BEIJING: China’s soybean imports from the United States rose in April, helped by an earlier easing of trade tensions with Washington, while imports from Brazil surged after buyers backloaded their March orders to benefit from a tax cut on agricultural products. China, the world’s top soybean buyer, brought in 1.75 million tonnes of the oilseed from the United States, up ... Read More »

Who pays Trump’s tariffs, China or U.S. customers and companies?

(FILES) In this file photo taken on November 09, 2017, US President Donald Trump (L) shakes hand with China's President Xi Jinping at the end of a press conference at the Great Hall of the People in Beijing. - China said Monday, May 13, 2019 it will raise tariffs on $60 billion worth of US goods from June 1, in retaliation to the latest round of US tariff hikes and Washington's plans to target almost all Chinese imports. The announcement came after the latest round of US-China trade negotiations ended Friday, May 10, 2019 without a deal, and after Washington increased tariffs on $200 billion worth of Chinese goods. (Photo by Fred DUFOUR / AFP)

U.S. President Donald Trump says China pays the tariffs he has imposed on $250 billion of Chinese exports to the United States. But that is not how tariffs work. China’s government and companies in China do not pay tariffs directly. Tariffs are a tax on imports. They are paid by U.S.-registered firms to U.S. customs for the goods they import ... Read More »

China pork imports jump 24% in April -customs

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BEIJING,: China imported 136,517 tonnes of pork in April, up 24% from the same month a year earlier, customs data showed on Thursday, as the world’s top consumer of the meat stocked up on supplies amid concerns of a looming shortage. This marked the biggest monthly volume since September 2016, when pork imports topped 140,000 tonnes. The have only come ... Read More »

Turkey grapples with big trade deficit with China

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President Donald Trump has stepped up his trade war on China after the United States’ trade deficit in goods with China hit a record $419.2 billion last year. US exports to China were worth $120.3 billion, while its imports were 4.5 times bigger, totaling $539.5 billion. Turkey, saddled in relative terms with a worse trade deficit with China, has begun ... Read More »

EU firms ‘caught in crossfire’ of US-China trade war

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European firms are “caught in the crossfire” of the US-China trade war and fewer are optimistic about their future in the world’s second-largest economy, a business survey showed Monday. The clash between Beijing and Washington does not benefit European companies, contrary to what some might have hoped at the beginning of the dispute last year, according to the European Union ... Read More »