Imports to China rose 3 percent from a year earlier in November of 2018, far below market expectations of 14.5 percent and following a 21.4 percent growth in October. It marked the weakest import growth since October 2016, as purchases of unwrought copper fell 3 percent year-on-year to 456,000 tonnes; copper concentrate fell 4.6 percent to 1.70 million tonnes and soybeans plunged 38.0 percent. On the other hand, purchases of crude oil rose 17.7 percent yoy to a fresh record high of 42.61 million tonnes, and natural gas grew 39.8 percent to 9.15 million tonnes. Imports in China averaged 520.89 USD HML from 1981 until 2018, reaching an all time high of 1949.84 USD HML in September of 2018 and a record low of 13.88 USD HML in February of 1983.
Imports in China is expected to be 1840.00 USD HML by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in China to stand at 1820.00 in 12 months time. In the long-term, the China Imports is projected to trend around 2000.00 USD HML in 2020, according to our econometric models.