|China's General Administration of Customs on Monday released preliminary data show that January surge in imports of Chinese commodities. Industry analysts believe that iron ore, oil and copper prices have risen to new highs, mainly due to strong demand from China.
These three materials are very crucial for industrial production. Analysts said that its purchase of China's economic growth momentum is still quite strong.
Data show that China's iron ore imports in January to a record 69 million tons, up 19% of the chain, rose 48% year on year, in time for the steel mills have increased raw material inventory before the Spring Festival.
Strong import in January, coupled with signs that the behavior continued to replenish inventories, on Monday pushed the spot price of iron ore to approach this critical level of 200 dollars per tonne. Iron ore brokers said the low supply in India, pushing the aid of the current round of price increases. This steel-making raw materials of iron ore in India is the world's third largest exporter. Iron ore spot prices touched $ 192.5 per ton, according to Platts data, the past 12 months, the increase was 50%.
As the role of iron and steel production, iron ore on the global economy is essential. From skyscrapers to cars and refrigerators, are inseparable from iron ore. Dealers said the number of Chinese iron ore spot prices this week may exceed 200 U.S. dollars per ton. But they can keep the price of such a high level of doubt.
In addition the data also show that in January China's crude oil imports soared, reaching the fourth largest monthly average, an increase of 27%. Buy about 510 million barrels of daily crude oil, higher than in January 2009 of 110 million barrels.
This round of buying the global benchmark - Brent crude oil price per barrel was pushed to an intraday high of $ 104.30, which is since September 2008 its highest level since late.