JP Morgan Chase: coal iron ore imports of oil hit a record high in March
Yesterday, JP Morgan the newest report displays that China's coal trades in March over the identical time span an boost of 36.2% to 5.72 million tons, striking a record high coal trades than trades in February expanded 17.2 percent. At the identical time, the output of metal ore for iron alloy trades in March come to a record 52.1 million tons, displaying an boost in genuine land parcel start-led recovery in iron alloy demand.
5-fold increase in coal imports
The report showed China's net imports of coal during the first quarter reached 6.22 million tons, representing a year-on-year increase of nearly 5 times. Analysts pointed out that the sharp increase in coal imports due to China's major independent power producers to Vietnam, Indonesia, Russia and Australia to increase the procurement of suppliers. When the coal supplier and the large-scale independent power producers for price negotiations between the first four months of stalemate, the Chinese power companies through the use of low international prices, was able to deduct the tax rates and lower cost. Also affected by increased imports to improve the promotion of domestic demand, China's electricity consumption in March fell 2.01 percent decline in February than 1 has been narrowed to 5.2%.
However, China's biggest coal dock in Qinhuangdao coal supplies have been the end of March from 4.9 million tons at the time dropped to 3.5 million tons, mirroring the latest decline.
Imports of iron ore record
The report also shows that China's iron ore imports in March reached a record 52.1 million tons, in view of the recent weakness in the domestic steel prices, which are unusually high level of import data. First quarter of this year, China imported 132 million tons of iron ore, and the year 2008 only 444 million tons of imports.
According to the Chinese considering firm Mysteel examination of the deal record by the commencing of this year in rank to endorse small-scale hard metal mills. According to the current written knowledge present that the first quarter of the in the household actual property area makeup in the environs went up 12.7 out of 100 year-on-year, moved ahead hard metal use went up over the matching period. However, the new work is still opposing expansion in the matching interval last year, presenting expansion in the makeup environs and re-start of the surviving projects. Housing sales carry on to select up will lessen the prevailing inventory at a higher stage and to nurture developers to start new ventures in the second half.
Central oil trades which was an boost of 33%
By the descent in freight rates and deal costs, the Government has an energetic retain of oil, copper, as well as constricted in the household deliver of other commodities. By the Government to advance the strategic oil reserves and demand, China's crude oil deals in March bang a new 12-month high of 16.34 million tons, an 33 out of 100 hoist in February.
JP Morgan Chase is expected that China's oil demand in the future as a strong rebound in economic growth. Although demand for passenger cars only China National Petroleum (601,857, stock it) a small proportion of consumption, but strong growth in sales of motor vehicles on the demand for oil is a good news. The report stressed that the Chinese manufacturers and the National Stock Reserve added reserves to the global impact of copper in China in March has not been processed and semi-processed copper imports reached 374,957 tons (up from a record created in February to raise 14%), the Copper hit a new high of 6 months. - 18424
5-fold increase in coal imports
The report showed China's net imports of coal during the first quarter reached 6.22 million tons, representing a year-on-year increase of nearly 5 times. Analysts pointed out that the sharp increase in coal imports due to China's major independent power producers to Vietnam, Indonesia, Russia and Australia to increase the procurement of suppliers. When the coal supplier and the large-scale independent power producers for price negotiations between the first four months of stalemate, the Chinese power companies through the use of low international prices, was able to deduct the tax rates and lower cost. Also affected by increased imports to improve the promotion of domestic demand, China's electricity consumption in March fell 2.01 percent decline in February than 1 has been narrowed to 5.2%.
However, China's biggest coal dock in Qinhuangdao coal supplies have been the end of March from 4.9 million tons at the time dropped to 3.5 million tons, mirroring the latest decline.
Imports of iron ore record
The report also shows that China's iron ore imports in March reached a record 52.1 million tons, in view of the recent weakness in the domestic steel prices, which are unusually high level of import data. First quarter of this year, China imported 132 million tons of iron ore, and the year 2008 only 444 million tons of imports.
According to the Chinese considering firm Mysteel examination of the deal record by the commencing of this year in rank to endorse small-scale hard metal mills. According to the current written knowledge present that the first quarter of the in the household actual property area makeup in the environs went up 12.7 out of 100 year-on-year, moved ahead hard metal use went up over the matching period. However, the new work is still opposing expansion in the matching interval last year, presenting expansion in the makeup environs and re-start of the surviving projects. Housing sales carry on to select up will lessen the prevailing inventory at a higher stage and to nurture developers to start new ventures in the second half.
Central oil trades which was an boost of 33%
By the descent in freight rates and deal costs, the Government has an energetic retain of oil, copper, as well as constricted in the household deliver of other commodities. By the Government to advance the strategic oil reserves and demand, China's crude oil deals in March bang a new 12-month high of 16.34 million tons, an 33 out of 100 hoist in February.
JP Morgan Chase is expected that China's oil demand in the future as a strong rebound in economic growth. Although demand for passenger cars only China National Petroleum (601,857, stock it) a small proportion of consumption, but strong growth in sales of motor vehicles on the demand for oil is a good news. The report stressed that the Chinese manufacturers and the National Stock Reserve added reserves to the global impact of copper in China in March has not been processed and semi-processed copper imports reached 374,957 tons (up from a record created in February to raise 14%), the Copper hit a new high of 6 months. - 18424
posted by X - Men at
2:20 AM
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