119 days ago • Posted by Martin Boujol

China imports all the oil

China almost single-handedly saved commodity demand in 2020, importing record level of crude oil this year following the collapse of oil prices amid the coronavirus pandemic. Oil was not the only commodity massively bought by China, this high demand was also there for copper, iron ore and coal. However, it would be rather risky to assume that 2021 will be a repeat strong performance, as data shows that China's massive buying spree appears to be ending. 

Source: General Administration of Customs, Reuters

China's commodity demand