According to customs statistics, in the first half of the year, the total value of my country's import and export of goods was 21.17 trillion yuan, a year-on-year increase of 6.1%. Among them, exports were 12.13 trillion yuan, an increase of 6.9%; imports were 9.04 trillion yuan, an increase of 5.2%; and the trade surplus was 3.09 trillion yuan, an increase of 12%. In terms of US dollars, in the first half of the year, the total value of my country's import and export was 2.98 trillion US dollars, an increase of 2.9%. Among them, exports were 1.71 trillion US dollars, an increase of 3.6%; imports were 1.27 trillion US dollars, an increase of 2%; and the trade surplus was 435 billion US dollars, an increase of 8.6%.

According to customs statistics, in the first half of the year, my country's general trade imports and exports amounted to 13.76 trillion yuan, up 5.2%, accounting for 65% of the total value of China's foreign trade. Among them, exports amounted to 8.01 trillion yuan, up 8.5%; imports amounted to 5.75 trillion yuan, up 1%. During the same period, processing trade imports and exports amounted to 3.66 trillion yuan, up 2.1%, accounting for 17.3%. Among them, exports amounted to 2.32 trillion yuan, down 1.3%; imports amounted to 1.34 trillion yuan, up 8.5%. In addition, my country's imports and exports through bonded logistics amounted to 2.96 trillion yuan, up 16.6%. Among them, exports amounted to 1.12 trillion yuan, up 13.2%; imports amounted to 1.84 trillion yuan, up 18.9%.

According to customs statistics, in the first half of the year, private enterprises' imports and exports totaled 11.64 trillion yuan, up 11.2%, accounting for 55% of China's total foreign trade, 2.5 percentage points higher than the same period last year. Among them, exports totaled 7.87 trillion yuan, up 10.7%, accounting for 64.9% of China's total exports; imports totaled 3.77 trillion yuan, up 12.3%, accounting for 41.8% of China's total imports. During the same period, foreign-invested enterprises' imports and exports totaled 6.17 trillion yuan, up 0.2%, accounting for 29.1% of China's total foreign trade. Among them, exports totaled 3.31 trillion yuan, down 0.1%; imports totaled 2.86 trillion yuan, up 0.5%. State-owned enterprises' imports and exports totaled 3.31 trillion yuan, up 1.2%, accounting for 15.6% of China's total foreign trade. Among them, exports totaled 931.28 billion yuan, up 1.9%; imports totaled 2.37 trillion yuan, up 1%.

According to customs statistics, in the first half of the year, my country imported 611 million tons of iron ore, an increase of 6.2%, with an average import price of 841.8 yuan per ton (the same below), up 7%; 275 million tons of crude oil, a decrease of 2.3%, at 4,316.3 yuan per ton, up 7.9%; 250 million tons of coal, an increase of 12.5%, at 716.3 yuan per ton, down 17%; 64.652 million tons of natural gas, an increase of 14.3%, at 3,488.5 yuan per ton, down 10.5%; 48.481 million tons of soybeans, a decrease of 2.2%, at 3,691.4 yuan per ton, down 15.8%; 25.076 million tons of refined oil, an increase of 9.9%, at 4,330.6 yuan per ton, up 7.9%. In addition, 14.202 million tons of primary-shaped plastics were imported, up 0.1%, at 10,800 yuan per ton, down 1%; 2.763 million tons of unwrought copper and copper products were imported, up 6.8%, at 65,900 yuan per ton, up 8.6%.

China's coal imports increased by 12% year-on-year in June 2024

According to foreign media reports, customs data showed that China's coal imports in June increased by 12% year-on-year as a heat wave swept across China, driving demand. According to data from the General Administration of Customs, China imported 44.6 million tons of coal in June, up from 43.82 million tons in May. In June, record high temperatures swept across northwest and eastern China, increasing electricity demand as people turned on air conditioners to cool down. On the supply side, the decline in coal production at the beginning of the year led to an increase in imports. From January to May this year, China's coal production fell 3% from the same period last year to 1.86 billion tons. Data shows that in the first half of 2024, China's total coal imports increased by 12.5% ​​year-on-year to 250 million tons.

China's iron ore imports fell 4.3% in June from the previous month

According to foreign media reports, customs data showed that China's iron ore imports in June fell 4.3% from the previous month as buyers reduced purchases amid high port inventories and expected seasonal slowdown in demand. Data from the General Administration of Customs showed that China's iron ore imports in June were 97.61 million tons, which was lower than analysts' forecasts of 98 million tons to 100 million tons. China imported 102.03 million tons in May and 95.52 million tons in June 2023. According to SMM analysts, due to the weakening of steel demand caused by heat waves and heavy rains in southern China, high port inventories, and market speculation about steel production restrictions have raised concerns about the demand outlook. Data showed that in the first half of 2024, China's iron ore imports increased by 6.2% year-on-year to 611 million tons.

China's soybean imports in June increased 10.7% year-on-year

According to foreign media reports, customs data showed that China's soybean imports in June increased by 10.7% from the same period last year as buyers stockpiled cheaper Brazilian soybeans ahead of the fourth-quarter North American export season. Data from the General Administration of Customs showed that 11.11 million tons of soybeans were imported in June, compared with 10 million tons a year ago. Brazilian soybean exports are slowing as the harvest season ends. In May, excessive rainfall and severe flooding hampered production and transportation. China's soybean imports in July are expected to reach a record level. Attracted by lower prices, analysts said China's soybean imports in July are expected to reach 12 million to 13 million tons, compared with 9.73 million tons in the same period last year. The U.S. Department of Agriculture (USDA) expects soybean imports to be 103 million tons in the 2024/25 marketing year, unchanged from the previous year's estimate.

China's copper imports fall to 14-month low in June 2024

According to foreign media reports, customs data showed that China's copper imports fell to a 14-month low in June as high global prices and weak domestic demand curbed purchasing intentions. According to data from the General Administration of Customs, imports of copper and copper products in June were 436,000 tons, down 3% from 449,649 tons in the same period last year, the lowest level since April 2023. As China's manufacturing industry contracted for the second consecutive month in June, demand for metals used in the power, construction and transportation industries was weak. Slow consumption has caused the Shanghai Futures Exchange's copper inventory to reach a four-year peak. Data showed that copper imports increased by 6.8% to 2.76 million tons in the first half of this year.

Article forwarded from: Jinshi Data