China reported strong commodities purchases last month, underlining the strength of the country’s demand for raw materials as traders take advantage of falling prices.
Chinese copper imports hit a 16-month high of 380,526 tonnes, while iron ore imports reached their highest level since January at 61m tonnes. However, imports of oil were down from August – and 12 per cent lower from a year earlier – at 5m barrels a day.
The release of monthly import data by the General Administration of Customs came as official US data on Thursday showed that Chinese traders made large purchases of corn earlier this week.
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