By: Inspenet, Dec 8, 2022
Chinese oil imports rose 12% in November from a year earlier and reached their highest level in ten months, according to data from China’s General Administration of Customs.
According to the entity, the rise was due to companies replenishing their reserves with cheaper oil and the start-up of new plants.
It is important to mention that the world’s largest importer of crude oil entered 46.74 million tons of oil last month, equivalent to 11.37 million barrels per day (bpd).
The figure was up from 10.16 million bpd in October and 10.17 million bpd in November 2021, according to Reuters data.
Meanwhile, Chinese copper imports rose in November 2022 on expectations of higher demand next year, as the world’s largest consumer of metals ramps up efforts to support its beleaguered real estate sector and begins to ease harsh conditions. restrictions due to Covid-19.
According to Reuters, imports of raw copper and derivative products amounted to 539,901.70 tons in November, based on data from the General Administration of Customs.
The purchases, which included anode, refined, alloy and semi-finished copper products, represented an increase of 5.8% compared to imports of 510,402.3 tons in the same month of the previous year.
Photo : humphery / Shutterstock.com
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