Trade Curbs on China Are Changing Commodity Flows From Partners
China’s latest trade figures provide a fresh look at how commodity flows to the world’s largest importer are changing amid restrictions affecting farm to energy products.
While the April data, released Saturday, preceded the recent escalation of the U.S.-China trade war, shifts in shipment trends were already underway, given the rising tensions between the Asian nation and some other countries.
The commodities affected by the changes are U.S. soybeans and gas, Australian coal, and Iranian and Venezuelan crude.
Soybean imports from the U.S. rose 16% month on month to 1.75 million tons in April, compared with 1.51 million a month earlier.
LNG purchases from America increased to 65,628 tons. China didn’t import any in March.
U.S. crude oil shipments climbed to 477,833 tons. There were no purchases in March.
Iranian crude imports gained 41% to 3.24 million tons, compared with 2.3 million in March.
The volume of Venezuelan crude expanded 79% to 1.9 million tons, after reaching 1.06 million in March.
The soybean volume from Canada fell 65% to 71,812 tons from 205,776 tons in March.
Coking coal imports from Australia increased 22% to 2.72 million tons from 2.23 million tons in March.