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Published on Gold Anti-Trust Action Committee (http://www.gata.org)

China sets record for gobbling up the world's commodities

By cpowell
Created 2018-01-12 13:36

By Pratish Narayanan
Bloomberg News
Thursday, January 11, 2018

China continues to gobble up the world's commodities, setting new records for consumption of everything from crude oil to soybeans.

In a year of flux marked by industrial capacity cuts, environmental curbs, and financial deleveraging, demand for raw materials has continued to grow in the world's biggest consumer, helping drive a second annual gain in global commodity returns.

The Bloomberg Commodity Index was up 0.2 percent at 9:55 a.m. London time, climbing for a fourth day. The gauge of returns from raw materials rose 0.8 percent last year after advancing 11.4 percent in 2016.

As President Xi Jinping consolidates power behind an economy that may have posted its first full-year acceleration since 2010, there are few signs of the Chinese commodity juggernaut slowing as it rolls into 2018.

"China's economic expansion has been beating expectations since the second half of last year, boosting demand for all kinds of commodities," Guo Chaohui, an analyst with Beijing-based China International Capital Corp., said by phone. "We are expecting continued strength in economic growth in 2018 which will keep up the nation's import appetite." ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2018-01-12/world-s-commodity-eng... [1]



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