Chinese consumers of thermal coal and iron ore are asking traders to defer cargos and – in some cases – defaulting on their contracts, in the clearest sign yet of the impact of the country’s economic slowdown on raw materials markets.
The deferrals and defaults have only emerged in the past few days, traders said, and have contributed to a drop in iron ore and coal prices.
“We have some clients in China asking us this week to defer volumes,” said a senior executive with a global commodities trading house, who warned that consumers were cautious. “China is hand to mouth at the moment.”
您已阅读26%（589字），剩余74%（1654字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。