By Michalis Voutsinas and Helen Vlassi
CRUDE OIL/NATURAL GAS
China brought in 46.74 million tonnes of crude oil in November, equivalent to 11.37 million barrels per day, or circa 12.0 percent down from a year earlier.
November’s reading rebounded to the highest level in the last 10 months as companies replenished stocks and new plants started up.
From January to November, crude imports totalled 460.26 million tonnes, down 1.4 percent from a year earlier.
Chinese state refiners stepped up purchases of US crude oil , while imports of Russian oil reported a 14-fold increase to circa 1 million barrelsin November.
China’s imports of natural gas increased to a 10-months high of 10.32 million tonnes in November, reversing from 7.61 million tonnes in previous month.
From January to November, China total imports stood at 99.2 million tonnes, down circa 10.4 percent from a year earlier.
IRON ORE
China brought in 98.85 million tonnes of iron ore in November, down by circa 5.8 percent year-on-year.
During the first eleven months of 2022, China imported 1.02 billion tonnes of iron ore, a dive of 2.1 percent from 1.04 billion tonnes reported in the same period a year earlier.
November’s imports of iron ore rose by 4.1 percent from October’s reading, as buyers stocked up before the end of the year.
During November, 74.54 million metric tonnes of crude iron ore has been extracted in China, or up circa 7.3 percent year-on-year.
On a monthly basis, iron ore output decreased by 6.54 percent in November, down from 79.76 million tonnes reported in October.
From January to November, 735.11 million metric tonnes of crude iron ore has been extracted in China, or down circa 1.4 percent year-on-year.
COAL
China imported 32.31 million tonnes of coal in November, up 7.8 percent year-onyear.
On a monthly basis, China’s coal imports stood 10.7 percentage points higher.
From January to November, Chinese customs cleared a total of 262.41 million metric tonnes or circa 10.0 percent down year-on-year.
China’s government has been urging coalfired power plants to build stockpiles to ensure stable heating and electricity supplies during winter.
Reporting a rise of 5.2 percent year-onyear, China’s domestic coal output balanced at 390.0 million tonnes in November, or 13.04 million tonnes per day.
China’s domestic coal output during first eleven months of 2022 rose by circa 9.7 percent from a year earlier to 4.09 billion metric tonnes.
China’s daily coal output hit an all time high in November as miners increased operations to meet higher heating demand.
GRAINS
China total soybean imports decreased by 1.4 percent from a year earlier in November to 7.35 million tonnes.
China’s November imports stood 77.5 percent higher than a reading of 4.14 million tonnes in the previous month, reversing from a straight five-month trend of low arrivals.
During the first eleven months of 2022, China’s total imports of soybean totalled 80.53 million tonnes, or circa 8.1 percent lower than a year ago.
China’s corn imports balanced at 0.74 million tonnes in November, down by circa 5.8 percent year-on-year.
China’s wheat imports in November increased by circa 25.5 percent from a year earlier, to 1.6 million tonnes.
China imported 2.35 million tonnes of grains on top of soybean imports in November, or circa 46.7 percent down year-on-year.
MINORS (EXPORTS)
China fertilizer exports in November stood at 2.2 million tonnes, up circa 10.5 percent year-on-year.
During the first eleven months of 2022, China exported circa 22.0 million tonnes of fertilizers, down by 34.4 percent yearon-year.
Chinese authorities maintained hurdles for fertilizer exporters amid growing concerns over surging power prices and food production.
China’s total finished steel exports shrank to 4.36 million tonnes for the fifth-straight month in November, or down 0.9 percent year-on-year.
Chinese steel exports during the first eleven months of 2022, lay at 61.88 million tonnes or up 26.7 percent year-onyear.
November’s steel exports balanced at 0.3 percent lower than a reading of 5.18 million tonnes a month earlier.
MINORS (IMPORTS)
China’s steel imports during November fell by 23.0 percent year-on-yearto 1.42 million tonnes.
From January to November, Chinese steel imports stood 30.0 percent lower than the respective period a year earlier, at 13.27 million tonnes.
On a monthly basis, China’s November imports trended 26.0 percent higher. MINORS
In November, Chinese timber imports balanced at 5.93 million CBM .
On a year-on-year basis, November’s timber imports decreased by circa 21.1 percent.
From January to November, China brought in 64.2 million CBM of timber and logs, or down circa 24.6 percent year-on-year.
Data source: Doric