World News

China coal imports rise in November despite push against pollution

China coal imports rise in November despite push against pollution

Arrivals of unwrought copper, which includes anode, refined, and semi-finished copper products stood at 470,000 tonnes last month, the General Administration of Customs said Friday, the highest level since December 2016.

China's November exports and imports blew past market expectations, with year-on-year gains of 12.3 per cent and 17.7 per cent, respectively, official data showed on Friday.

China's overseas shipments unexpectedly jumped as global demand remained firm, while import growth remained steady.

Steel exports rose from the previous month to 5.35 million tonnes in November, data showed.

The number beat analysts' forecast of a 5.0 percent increase and compared with 6.9 percent growth in October.

China's natural gas imports in November rose to a record as domestic demand surged while crude imports were the second-highest ever, as refiners ramped up output to cash in on strong profits as fuel prices soar.

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The trade surplus totaled $40.21 billion in November versus the expected surplus of $35.0 billion.

Chinese copper smelters such as Tongling Nonferrous Metals Group cut back production last month to comply with environmental protection measures.

Exports stood at 380,000 tonnes, up 8.6 percent from 350,000 tonnes in October and flat on a year earlier.

The rebound boosted export growth to the fastest pace since March.

Export growth also beat, lifting by 12.3% over the same period in United States dollar terms, a sharp improvement on the 6.9% level of October and forecasts for an increase of 5%. Economists had forecast exports to grow 2% and imports to rise 12.5%.