Chinese Dry Bulk Import Up 20% in February
Chinese seaborne dry bulk import totaled 124Mt in February, up a massive 20% compared to the same month last year when adjusted for the extra day in February last year, says Klaveness dry bulk research report.
YTD import is up 17% compared to the same period last year. The import of the top 4 commodities (Iron Ore, Thermal & Coking coal and Soybeans) increased with 19% YoY (+13.3Mt). YTD imports are up 19% compared to the same period last year.
Excluding those 4 commodities from the figures, imports in February were up 27% YoY (+5.1Mt). YTD imports of these commodities are up 13% from the same period last year.
Klaveness Research said that in nominal terms the largest growth YTD is in iron ore (+18Mt), followed by Thermal coal (+9.5Mt), soybeans (+2.9Mt) and Coking coal (+1.9Mt). Among the non-top 4 commodities the largest growth is in Manganese Ore (+1.5Mt), Chromium Ore (+1.2), Pulp (+1.0) and Barley.
The worst performers in nominal terms are forest products (-0.7Mt), Alumina (-0.4Mt) and DDGS (-0.4Mt).