JP Morgan Chase: coal metal ore trades of oil strike a record high in March
Yesterday, JP Morgan the current report presentations that China's coal deals in March over the matching interval an advance of 36.2% to 5.72 million tons, banging a record high coal deals than deals in February advanced 17.2 percent. At the matching time, the goods produced of steel ore for hard metal deals in March arrived at a record 52.1 million tons, presenting an advance in actual property area start-led recovery in hard metal demand.
5-fold advance in coal deals
The report presented China's mesh deals of coal as long as the first quarter arrived at 6.22 million tons, exemplifying a year-on-year advance of close to 5 times. Analysts incisive out that the spiky advance in coal deals due to China's greatest unconnected power makers to Vietnam, Indonesia, Russia and Australia to advance the procurement of suppliers. When the coal supplier and the large-scale unconnected power makers for charge dialogues between the first four months of stalemate, the Chinese power financial gatherings through the use of small global costs, was competent to deduct the duty rates and worse cost. Also changed by advanced deals to enhance the endorsement of in the household demand, China's electrical power use in March plunged 2.01 out of 100 descent in February than 1 has been constricted to 5.2%.
However, China's largest coal port in Qinhuangdao coal stocks have been the end of March from 4.9 million tons at the time fell to 3.5 million tons, reflecting the recent decline.
Imports of iron ore record
The report also shows that China's iron ore imports in March reached a record 52.1 million tons, in view of the recent weakness in the domestic steel prices, which are unusually high level of import data. First quarter of this year, China imported 132 million tons of iron ore, and the year 2008 only 444 million tons of imports.
According to the Chinese considering firm Mysteel examination of the deal record by the commencing of this year in rank to endorse small-scale hard metal mills. According to the current written knowledge present that the first quarter of the in the household actual property area makeup in the environs went up 12.7 out of 100 year-on-year, moved ahead hard metal use went up over the matching period. However, the new work is still opposing expansion in the matching interval last year, presenting expansion in the makeup environs and re-start of the surviving projects. Housing sales carry on to select up will lessen the prevailing inventory at a higher stage and to nurture developers to start new ventures in the second half.
Central oil imports which was an increase of 33%
By the descent in freight rates and deal costs, the Government has an energetic retain of oil, copper, as well as constricted in the household deliver of other commodities. By the Government to advance the strategic oil reserves and demand, China's crude oil deals in March bang a new 12-month high of 16.34 million tons, an 33 out of 100 hoist in February.
JP Morgan Chase is expected that China's oil demand in the future as a strong rebound in economic growth. Although demand for passenger cars only China National Petroleum (601,857, stock it) a small proportion of consumption, but strong growth in sales of motor vehicles on the demand for oil is a good news. The report stressed that the Chinese manufacturers and the National Stock Reserve added reserves to the global impact of copper in China in March has not been processed and semi-processed copper imports reached 374,957 tons (up from a record created in February to raise 14%), the Copper hit a new high of 6 months. - 18418
5-fold advance in coal deals
The report presented China's mesh deals of coal as long as the first quarter arrived at 6.22 million tons, exemplifying a year-on-year advance of close to 5 times. Analysts incisive out that the spiky advance in coal deals due to China's greatest unconnected power makers to Vietnam, Indonesia, Russia and Australia to advance the procurement of suppliers. When the coal supplier and the large-scale unconnected power makers for charge dialogues between the first four months of stalemate, the Chinese power financial gatherings through the use of small global costs, was competent to deduct the duty rates and worse cost. Also changed by advanced deals to enhance the endorsement of in the household demand, China's electrical power use in March plunged 2.01 out of 100 descent in February than 1 has been constricted to 5.2%.
However, China's largest coal port in Qinhuangdao coal stocks have been the end of March from 4.9 million tons at the time fell to 3.5 million tons, reflecting the recent decline.
Imports of iron ore record
The report also shows that China's iron ore imports in March reached a record 52.1 million tons, in view of the recent weakness in the domestic steel prices, which are unusually high level of import data. First quarter of this year, China imported 132 million tons of iron ore, and the year 2008 only 444 million tons of imports.
According to the Chinese considering firm Mysteel examination of the deal record by the commencing of this year in rank to endorse small-scale hard metal mills. According to the current written knowledge present that the first quarter of the in the household actual property area makeup in the environs went up 12.7 out of 100 year-on-year, moved ahead hard metal use went up over the matching period. However, the new work is still opposing expansion in the matching interval last year, presenting expansion in the makeup environs and re-start of the surviving projects. Housing sales carry on to select up will lessen the prevailing inventory at a higher stage and to nurture developers to start new ventures in the second half.
Central oil imports which was an increase of 33%
By the descent in freight rates and deal costs, the Government has an energetic retain of oil, copper, as well as constricted in the household deliver of other commodities. By the Government to advance the strategic oil reserves and demand, China's crude oil deals in March bang a new 12-month high of 16.34 million tons, an 33 out of 100 hoist in February.
JP Morgan Chase is expected that China's oil demand in the future as a strong rebound in economic growth. Although demand for passenger cars only China National Petroleum (601,857, stock it) a small proportion of consumption, but strong growth in sales of motor vehicles on the demand for oil is a good news. The report stressed that the Chinese manufacturers and the National Stock Reserve added reserves to the global impact of copper in China in March has not been processed and semi-processed copper imports reached 374,957 tons (up from a record created in February to raise 14%), the Copper hit a new high of 6 months. - 18418
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1:47 AM
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