LAUNCESTON, Australia, July 14 (Reuters) – China’s imports of most major commodities were unabashedly weak in June, but the soft outcome is more of a history lesson than a pointer to future demand in the world’s biggest buyer of natural resources.
Crude oil imports slumped to a near four-year low in June, coming in at 8.72 million barrels per day (bpd), down 19% from May and 11% below the level in June last year, according to data released on Wednesday by the General Administration of Customs.