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☆ China's imports jump 8.4% in April, exceeding expectations as purchases from the U.S. grow
▼ + stars: | 2024-05-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Aly Song | ReutersBEIJING — China's customs agency released data Thursday that showed exports rose in-line with expectations in April, while imports surged ahead of forecasts. Worldwide, China's exports rose by 1.5% year-on-year in April in U.S. dollar terms, while imports climbed by 8.4%, the data showed. China's exports to ASEAN rose by 8% in April from a year ago, while imports rose by 5%. In April, China's imports and exports of integrated circuits rose from a year ago, the data showed. By volume, China's exports of cars, LCD panel displays and home appliances rose, while exports of cellphones fell slightly.

Persons: Aly Song Organizations: Reuters, CNBC, U.S, Association of Southeast, ASEAN Locations: Yangshan, Shanghai, China, Reuters BEIJING, U.S, Union, Russia, Nations, Vietnam, Mexico

☆ China's annual exports drop for the first time in seven years
▼ + stars: | 2024-01-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Aly Song | ReutersBEIJING — China's annual exports fell for the first time in seven years in 2023, even as shipments in December beat expectations, customs data showed Friday. But for 2023, exports fell 4.6%, the first such annual drop since a 7.7% decline in 2016, according to Wind Information. By country, the U.S. remained China's largest trading partner. Russia was a rare bright spot, with China's exports to the country climbing nearly 47% in 2023, and imports rising almost 13%. China's exports in most product categories fell in 2023, with machinery, boats and home appliances among the few exceptions.

Persons: Aly Song, Caixin, Larry Hu, Zhiwei Zhang Organizations: Reuters, Information, of Southeast, Nations, European Union, U.S ., China, National Bureau, Statistics Locations: Yangshan, Shanghai, China, Reuters BEIJING, U.S, Russia

LONDON, Nov 28 (Reuters) - China's imports of refined copper have quietly accelerated over recent months, taking volumes to a year-to-date high in October. China's appetite for imported copper is not confined to refined metal. It is also absorbing record amounts of copper concentrates and imports of recyclable metal are running at the fastest pace since 2018. China's trade in refined copperIMPORT STRENGTHChina imported 353,000 metric tons of refined copper in October, which was the highest monthly volume this year. Shanghai Futures Exchange copper stocks, bonded stocks and Yangshan premiumBOOMING OUTPUT, LOW STOCKSHigher raw materials imports this year have allowed China's smelters to ramp up run rates.

Persons: Barbara Lewis Organizations: Democratic, Shanghai Futures Exchange, Shanghai Metal, Stocks, International Energy Exchange, Citi, Reuters, Thomson Locations: Democratic Republic of Congo, China, Congo, Beijing, Shanghai

☆ Analysts' comments on China's export permits for some graphite products
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +3 min

Here is what analysts are saying about the measure:IVAN LAM, SENIOR ANALYST, COUNTERPOINT RESEARCH:"In addition to China, other countries and regions also implement graphite export controls. Graphite has a wide range of applications in industry, and the demand for its use is growing. KANG DONG-JIN, ANALYST AT HYUNDAI SECURITIES IN SEOUL:"It's not that China would suddenly stop export graphite, but it would be more intensely regulated and reviewed. It is still unclear how far China would take this graphite export curb, which would determine the supply chains. "With this new graphite export curb, South Korean firms - or South Korea in general, which heavily rely on China for graphite imports, would need to seek alternatives, such as mines from the United States or Australia, but it would likely increase cost burden for many."

Persons: Aly, IVAN LAM, CHRISTOPHER RICHTER, you've, KANG DONG, JIN, Brenda Goh, Daniel Leussink, Heekyong Yang, Miyoung Kim, Nivedita Organizations: REUTERS, Rights, EU, Thomson Locations: Port, Shanghai, China, Rights SINGAPORE, Russia, Ukraine, TOKYO, SEOUL, South Korea, United States, Australia, Tokyo, Seoul

☆ China, world's top graphite producer, to curb exports of key battery material
▼ + stars: | 2023-10-20 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

FILE PHOTO: Trucks travel past containers at the Yangshan Deep Water Port in Shanghai, China January 13, 2022. It also refines more than 90% of the world’s graphite into material used in virtually all EV battery anodes. China is enacting the curbs at the same time that foreign governments are increasing their pressure on its companies over their industrial practices. Under the new restrictions announced on Friday, China will require exporters of two types graphite to apply for permits, including high-purity, high-hardness and high intensity synthetic graphite material, and natural flake graphite and its products. Top buyers of graphite from China include Japan, India and South Korea, according to Chinese customs data.

Persons: Aly Organizations: REUTERS, . Geological Survey, EV, European, Nvidia Locations: BEIJING, China, Port, Shanghai, U.S, United States, Europe, Japan, India, South Korea

The exception among major commodities was copper, where imports of the unwrought metal were up in September from August, but down from the year earlier month. Copper imports were 480,426 metric tons in September, up from August's 473,330, but down 5.8% from 509,954 in September last year. For the first nine months of 2023, unwrought copper imports were down 9.5% to 3.99 million metric tons. Crude oil imports were 11.13 million barrels per day (bpd) in September, down from August's 12.4 million bpd, although it's worth noting that August was third strongest month on record. IRON ORE, COALIron ore imports dropped to 101.18 million metric tons in October, down 4.9% from August's 106.42 million, but it's worth noting that August was the strongest month since October 2020.

Persons: Aly, China's, Lincoln Organizations: REUTERS, Rights, Reuters, Thomson Locations: Port, Shanghai, China, Rights LAUNCESTON, Australia, August's

☆ China's trade slump narrows as stabilisation signs emerge
▼ + stars: | 2023-09-07 | by ( Joe Cash | ) www.reuters.com time to read: +3 min

“The trade data is marginally better, but I don’t think we should be reading too much into that: trade is still contracting,” said Frederic Neumann, chief Asia economist at HSBC. “There is a bit of a sign here of stabilisation, but I think there’s still a long way to go,” he added. “Looking ahead, whether China’s trade growth has already hit the bottom will hinge on several factors, the most important of which is obviously domestic demand.”Governments around the world are nervous about China’s economic slowdown with many exporting nations highly dependent on the country’s market for growth. However, trade with Japan dropped sharply, with outbound shipments from China to its neighbour down 20% in August year-on-year, while imports worsened by 17%. China posted a trade surplus of $68.36 billion in August, compared with a forecast $73.80 billion and a July figure of $80.6 billion.

Persons: Aly, ”, Frederic Neumann, Zhou Hao, it’s, Nie Wen Organizations: REUTERS, HSBC, Guotai, “, Australian, Hwabao Trust Locations: BEIJING, Shanghai, China, Asia, Beijing, United States, Southeast Asia, Australia, Japan, Tokyo, Brazil

☆ China's August exports, imports fall less than expected
▼ + stars: | 2023-09-07 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

REUTERS/Aly Song/File PhotoBEIJING (Reuters) - China’s exports fell 8.8% in August year-on-year, while imports contracted 7.3%, customs data showed on Thursday, increasing pressure on the country’s vast manufacturing sector as demand sags at home and abroad. A Reuters poll of economists had forecast a fall of 9.2% in exports and a drop of 9.0% in imports. The world’s second-largest economy risks missing Beijing’s annual growth target of about 5% as officials wrestle with a worsening property slump, weak consumer spending and tumbling credit growth, leading analysts to downgrade growth forecasts for the year. South Korean shipments to China, a leading indicator of the latter’s imports, dropped just a fifth last month, softening from a decrease of 27.5% a month earlier. China posted a trade surplus of $68.36 billion in August, compared with a forecast $73.80 billion and a July figure of $80.6 billion.

Persons: Aly Organizations: REUTERS Locations: Shanghai, China, BEIJING, Beijing

Elsewhere in Asian FX markets, China's yuan slid to a 10-month low on Wednesday through 7.32 per dollar and is a whisker from plumbing depths not recorded since late 2007. Investors could get further reminders on the currency's vulnerability from Chinese trade and FX reserves figures on Thursday. Chinese trade has been one of the biggest economic red flags this year. Beijing's nominal FX reserves have risen this year, even as the nominal value of Beijing's holdings of U.S. Treasuries has fallen to a 14-year low. Here are key developments that could provide more direction to markets on Thursday:- China trade (August)- Malaysia interest rate decision- Australia trade (August)By Jamie McGeever; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Jamie McGeever, Treasuries, Josie Kao Organizations: REUTERS, FX, Asian FX, Reuters, Thomson Locations: Shanghai, China, India, Japan, Asian, Beijing, U.S, Malaysia, Australia

☆ China's exports, imports likely contracted more slowly in August
▼ + stars: | 2023-09-05 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

REUTERS/Aly Song/File Photo/File PhotoBEIJING (Reuters) -China’s exports likely contracted at a slower pace in August, a Reuters poll showed on Tuesday, highlighting that manufacturers remain under pressure after outbound shipments recorded their worst performance since February 2020 last month. Imports are expected to have shrunk by 9.0%, after dropping 12.4% in July, reflecting slightly improved domestic demand. But South Korean shipments to China, a leading indicator of China’s imports, dropped 27.5% last month, worsening from a 25.1% fall in July. The median estimate in the poll indicated that China’s trade surplus would shrink, with analysts predicting it will come in at $73.80 billion, compared with $80.6 billion in July. China’s trade data will be released on Thursday.

Persons: Aly Organizations: REUTERS, Barclays, Nomura Locations: Shanghai, China, BEIJING

☆ China's exports, imports likely contracted more slowly in August: Reuters poll
▼ + stars: | 2023-09-05 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

REUTERS/Aly Song/File Photo/File PhotoBEIJING (Reuters) - China’s exports likely contracted at a slower pace in August, a Reuters poll showed on Tuesday, highlighting that manufacturers remain under pressure after outbound shipments recorded their worst performance since February 2020 last month. Imports are expected to have shrunk by 9.0%, after dropping 12.4% in July, reflecting slightly improved domestic demand. South Korean shipments to China, a leading indicator of China’s imports, dropped by just 20% last month, softening from a 25.1% fall in July. The median estimate in the poll indicated that China’s trade surplus would shrink, with analysts predicting it will come in at $73.80 billion, compared with $80.6 billion in July. China’s trade data will be released on Thursday.

Persons: Aly Organizations: REUTERS, Barclays, Nomura Locations: Shanghai, China, BEIJING

REUTERS/Aly Song/File PhotoAug 15 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. As waves of volatility crashed over emerging markets on Monday, most notably in Argentina and Russia, the focus on Tuesday once again returns to the root of much of the deeper anxiety and uncertainty around EM: China. Reuters polls of economists suggest annual growth in investment and industrial output will remain steady from June's levels, while retail sales growth will rise to 4.5% from 3.1%. Tuesday's data dump comes a day before the central bank delivers its latest monthly monetary policy decision. With the U.S. dollar and U.S. Treasury yields marching higher, global financial conditions are tightening and there doesn't appear to be any respite for emerging markets on the immediate horizon.

Persons: Aly, Jamie McGeever, Marguerita Choy Organizations: REUTERS, Investment, Reserve Bank of, Authorities, Reuters, U.S ., U.S, Treasury, Thomson Locations: Shanghai, China, Argentina, Russia, Reserve Bank of Australia's, Japan, Beijing, U.S, Asia

Containers are seen at the Yangshan Deep-Water Port in Shanghai, China October 19, 2020. REUTERS/Aly Song/File PhotoAug 9 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Producer prices in China have been falling on an annual basis every month since October, and more importantly, the pace of decline has accelerated this year. The range of PPI forecasts is -6.1% to -2.9%, and the CPI range is -0.9% to 0.5%, according to Reuters polls. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Aly, Jamie McGeever, Deepa Babington Organizations: REUTERS, Wall Street, CPI, Bridgestone, Honda, Sony, Nasdaq, China CPI, PPI, Thomson, Reuters Locations: Shanghai, China, Japan, Asia, South Korea

☆ Morning Bid: China trade data disappoints, again
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +3 min

U.S. equity markets saw their first positive day in August on Monday, but then along came Chinese trade data. Parsing the export data, David Chao, global market strategist at Invesco, says the miss was driven by lower prices rather than lower volumes, and that Chinese export volumes remain surprisingly robust. Though, he says, "looking at other export-related data such as export orders, the outlook appears weak." Even Chinese imports from Russia fell year-on-year in July, the first fall since Feb 2021. Tuesday looks quiet on the U.S. data front, but traders are bracing for the big one - Thursday's CPI data.

Persons: Alun John ., David Chao, Hong, Intesa, Banca, Banks, Moody's, Fed's Harker, Alun John, Barbara Lewis Organizations: Shipping, cnsphoto, REUTERS, Nasdaq, BPER Banca, Bank of New York Mellon, US Bancorp, Truist, Thomson, Reuters Locations: Shanghai, China, U.S, Hong Kong, Russia, Europe

☆ Analysis: No decoupling, but West and China drift apart
▼ + stars: | 2023-08-08 | by ( Mark John | ) www.reuters.com time to read: +5 min

Containers are seen at the Yangshan Deep Water Port in Shanghai, China, as the coronavirus disease (COVID-19) outbreak continues, October 19, 2020. But underlying trade and investment trends point to an unmistakable long-term drift in commercial ties with the West. Take foreign direct investment - the more forward-looking clue as to where commercial ties between countries are heading. WATCH GERMANYSome, meanwhile, point to the fact that U.S.-China trade - exports and imports of goods combined - hit a record $690 billion last year as evidence that the reality does not match the frosty political rhetoric. Last month's China strategy document unveiled by Chancellor Olaf Scholz's three-way coalition left open exactly how far Berlin would ultimately go in reining in commercial ties.

Persons: Aly, China's, Louise Loo, Stephen Roach, Yale Law School's Paul Tsai, Angela Merkel, Chancellor Olaf Scholz's, Mark Leonard, –, Joe Biden, Loo, Mark John, Christina Fincher Organizations: REUTERS, West, Oxford Economics, Yale Law, Yale Law School's Paul Tsai China Center, Reuters, European Council, Foreign Relations, – Mercedes, Benz, BMW, Volkswagen, BASF –, Oxford, Thomson Locations: Port, Shanghai, China, United States, Europe, GERMANY, Germany, Berlin, reining, Taiwan, U.S

☆ China's July exports, imports fall much faster than expected
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Aly Song/File Photo/File PhotoBEIJING, Aug 8 (Reuters) - China's exports fell 14.5% in July year-on-year, while imports contracted 12.4%, customs data showed on Tuesday, in the biggest decline in outbound shipments from the world's second-largest economy since February 2020. A Reuters poll of economists had forecast a 12.5% fall in exports and a 5.0% drop in imports. China's economy grew at a sluggish pace in the second quarter as demand weakened at home and abroad, prompting top leaders to promise further policy support at a meeting of the Politburo last month. South Korean exports to China fell 25.1% in July from a year earlier, the sharpest decline in three months. China's trade surplus grew by $80.6 billion, beating a forecast of $70.6 billion in the poll.

Persons: Aly, Joe Cash, Sam Holmes Organizations: REUTERS, Thomson Locations: Shanghai, China, BEIJING, Beijing, Asia, South

Containers are seen at the Yangshan Deep-Water Port in Shanghai, China October 19, 2020. REUTERS/Aly Song/File PhotoAug 8 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. China's July trade data top a heavy regional economic calendar on Tuesday, with current account, bank lending and household spending reports from Japan, current account data from South Korea and Australian consumer sentiment also on tap. But for the world's manufacturing and factory engine, focus is on the alarming weakness in exports. At -54.7, it is at its 'highest' level since June 30, but will soon be heading lower again if Tuesday's trade data disappoint.

Persons: Aly, Jamie McGeever, swatted, John Williams, Dow, Japan's Organizations: REUTERS, Wall, Treasury, New, Nasdaq, Equity, Nikon, Mazda, Thomson, Reuters Locations: Shanghai, China, Asia, Japan, South Korea, Beijing, U.S, Australia

Containers are seen at the Yangshan Deep-Water Port in Shanghai, China October 19, 2020. REUTERS/Aly Song/File PhotoBEIJING, Aug 7 (Reuters) - China's exports likely contracted further in July, as manufacturers in the world's second-largest economy struggled for buyers in markets grappling with high inflation and rising interest rates, a Reuters poll showed on Monday. Imports are expected to have shrunk by 5.0%, after a fall of 6.8% in June, reflecting slightly improved domestic demand. The median estimate in the poll indicated only marginal change in China's trade surplus, with analysts predicting it will come in at $70.60 billion, compared with 70.62 billion in June. China's trade data will be released on Tuesday.

Persons: Aly, Joe Cash, Anant Chandak, Susobhan Sarkar, Shri Navaratnam Organizations: REUTERS, Thomson Locations: Shanghai, China, BEIJING, Beijing, outflows, Bengaluru

LONDON, June 27 (Reuters) - There's a renewed scramble for copper sitting in London Metal Exchange (LME) warehouses. Headline LME copper stocks have slid from 100,100 tonnes to 77,050 over the last three weeks despite almost 30,000 tonnes of arrivals. The drain on LME copper stocks is puzzling given weakening manufacturing activity in both Europe and the United States. It wouldn't be the first time that the LME stocks signal has been refracted, and the lower the stocks, the easier it is to bend the light. The Shanghai exchange has experienced tightness across the front part of the curve since March, with time-spreads now also the widest since November.

Persons: Boliden's, Copper, Jan Harvey Organizations: London Metal Exchange, LME, U.S ., CME, Shanghai Futures Exchange, Shanghai Futures, ShFE's, International Energy Exchange, Shanghai Metal, Reuters, Thomson Locations: Europe, United States, U.S, London, ShFE, INE, Shanghai, China, Asia

Aerial view of shipping containers sitting stacked at Yangshan Deepwater Port, the world's biggest automated container terminal, on May 21, 2021 in Shanghai, China. Policy support"China could at least be a relative 'safe haven' given its growth premium, financial soundness, policy discipline and the new political economy cycle," Citi economists said. The RRR is a measure of how much cash banks in China need to have on hand. Since the pandemic started, mainland China has kept relatively easy monetary policy while not announcing major stimulus packages — such as large cash handouts to consumers. "With the unintended and undesirable from aggressive interest rate hikes surfacing abroad, capital inflows into China could resume after the reopen trade if the recovery thesis plays out and political rerating is steadily ongoing," Citi economists wrote.

☆ China economy expected to rebound in 2023 with expansion of domestic demand
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: 1 min

[1/2] A truck moves containers at the Yangshan Deep Water Port in Shanghai, China January 13, 2022. Picture taken January 13, 2022. REUTERS/Aly SongBEIJING, Feb 24 (Reuters) - China' economy is expected to generally rebound in 2023, and the country will increase macro policy regulation with a focus on supporting the expansion of domestic demand, according to the central bank's monetary policy implementation report on Friday. China will pay close attention to changes in inflation trends and keep the price level basically stable, said the report. Reporting by Liangping Gao and Ryan Woo; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Surging Shanghai metal stocks have injected an element of doubt into the bull narrative and the LME Index is now showing year-to-date gains of only 3% after a February pull-back. Shanghai Futures Exchange stocks of aluminium, copper and zincSEASONAL SURGEMetals bulls have been nervously watching the fast build in Shanghai Futures Exchange (ShFE) stocks over the past few weeks. Copper stocks have grown equally dramatically, from 69,268 tonnes to 242,009 tonnes over the same period. It is currently assessed by Shanghai Metal Market at a bombed-out $22.50 a tonne, down from an October high of $152.50. WAIT AND WATCHIt's difficult to say until China's seasonal stocks pattern plays out in full.

China's net refined copper imports and year-on-year changeBOOMING IMPORTSThe strength of last year's imports was even more surprising given the financial problems at privately-owned Maike Group. But it has clearly had minimal impact on the overall flow of refined copper into China. But China's imports of Russian copper actually fell by 20% to 324,000 tonnes in 2022. China's net imports of refined copper were running below year-earlier levels through May but steadily accelerated over the second part of the year. Goldman suggests that a sign of restocking by China's copper sector would be net refined imports being consistently higher than 280,000 tonnes per month.

ShFE stocks, bonded warehouse stocks and Yangshan premiumSHANGHAI SQUEEZEThe ShFE copper contract has been characterised by low inventory and rolling tightness for some time. It is probable that troubled trade house Maike Group is also somehow in the Shanghai copper cocktail right now. LONDON'S RUSSIAN DILEMMAChina's strong call on copper is being felt in London, where falling LME stocks have rekindled time-spread volatility. The micro-macro divergence looks set to accentuate as LME stocks are stripped for shipment to China. Over 60% of LME copper stocks at the end of September were Russian metal.

LONDON, Oct 14 (Reuters) - European copper buyers are going to be paying a lot more to get their metal next year. Aurubis (NAFG.DE) cited a combination of high freight and power costs and low visible copper stocks. European annual copper premiumsSANCTIONS CREEPThere were no official sanctions on Russian copper until earlier this month, when the British government announced an asset freeze on Iskander Makhmudov. ASIAN DISCOUNTWhat will happen to all the Russian copper if Europe stages a collective boycott? The sharp hike in next year's European premiums says much about the cost of refusing Russian metal.

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