China Commodities & Resources Monthly Recap

May 22 – China's refined oil stockpiles decreased 60,000 tons in April from the previous month, the National Development and Reform Commission said.

May 22 – China's refined oil consumption was down 0.6% year on year to 20.2 million tons in April, the National Development and Reform Commission said.

May 22 – China's natural gas consumption was up 13.1% year on year to 10.9 billion m3 in April, the National Development and Reform Commission said.

May 22 – China's imports of Iranian crude oil recovered in April after sharp drops earlier this year, suggesting the nation remains a steady customer despite US sanctions, the Wall Street Journal reported. China's April crude imports from Iran, at 1.6 million tons or 390,000 barrels a day, were up 48% from March but down 24% from a year earlier.

May 21 – China's sugar imports rose 98% year on year to 311,091 tons in April, according to customs figures.

May 21 – China's cotton imports more than doubled from a year earlier to 509,693 tons in April, according to customs figures. China is the world's largest producer, consumer and importer of cotton.

May 21 – China's copper concentrate imports rose 70.3% year on year to 272,903 tons in April, according to customs figures. China is the world's largest copper consumer.

May 21 – China's coal imports rose 80.2% year on year to 19.87 million tons in April, according to customs figures.

May 21 – China's natural gas imports rose 47.5% year on year to 1.29 million tons in April, according to customs figures.

May 21 – China's sugar imports surged 97% from a year earlier to 310,000 tons in April, according to Economic Information and Agency Holdings. Sugar imports were up 242% year on year to 810,000 tons in the first four months, representing 41.6% of the 2012 quota.

May 18 – China added 11,650 tons to its first batch of rare earth export quota for this year, increasing the total amount to 22,195 tons, according to the Ministry of Commerce. The nation exported 2,773 tons of rare earth minerals in Q1 2012, or just 26% of the initial quota, and only about half of last year's 30,184-ton quota was used, according to data from the ministry.

May 18 – China's demand for gold grew 10% year on year to 255.2 tons in Q1 2012, replacing India as the world's largest consumer, according to the World Gold Council. Consumption from gold jewelry in China was up 8% year on year to 156.6 tons between January and March, accounting for 30% of the world's aggregate demand for gold jewelry.

May 17 – The price of gold at the Shanghai Gold Exchange has dropped below ¥320/g and the retail prices of gold jewelry in China averaged below ¥400/g as the US dollar kept gaining in value. The prices were the lowest since 2012.

May 11 – China's sugar output was up 17% year on year to 9.45 million tons in the first four months of 2012, according to the National Bureau of Statistics.

May 11 – China's steel output was up 7.9% year on year to 81.07 million tons in April, according to the National Bureau of Statistics.

May 11 – China's cement output was up 4% year on year to 196.66 million tons in April, according to the National Bureau of Statistics.

May 11 – China processed 36.96 million tons of crude oil in April, down 0.3% year on year, according to the National Bureau of Statistics.

May 11 – China's output of the ten most used nonferrous metals was up 2.3% year on year to 2.89 million tons in April, according to the National Bureau of Statistics.

May 11 – China's ethylene output was down 6.3% year on year to 1.22 million tons in April, according to the National Bureau of Statistics.

May 10 – China's dependence on imported oil and iron ore both exceeded 56% in 2011, according to a report released by the Ministry of Land and Resources.

May 10 – China's soybean imports were up 22.3% year on year to 18.15 million tons in the first four months of 2012, according to customs figures.

May 10 – China's iron ore imports were up 6.5% year on year to 244.6 million tons in the first four months of 2012, according to customs figures.

May 10 – China's crude oil imports were up 9.3% year on year to 92.87 million tons in the first four months of 2012, according to customs figures.

May 10 – China's copper imports were up 48.8% year on year to 1.74 million tons in the first four months of 2012, according to customs figures.

May 10 – China's aluminum imports were up 34.9% year on year to 433,032 tons in the first four months of 2012, according to customs figures.

May 8 – China's demand for natural gas is to double the current level by 2013, according to Liu Tienan, the head of the National Energy Administration. The country consumed 131.3 billion m3 of natural gas in 2011.

May 8 – Mainland China's gold imports from Hong Kong surged more than sixfold in Q1 2012, adding to signs that the country may displace India as the world's largest gold consumer, Bloomberg reported. Imports from Hong Kong were 135,529kg between January and March, up from 19,729kg in Q1 2011, according to the Hong Kong government.

May 4 – The pork/feed price ratio has remained below the breakeven point of 6 in China for three straight months as corn prices continued to rise, the National Development and Reform Commission said. Pork prices averaged ¥14.52/kg nationwide on April 25.

April 30 – China bought nearly one million tons of US cotton over the past seven months, keeping prices afloat on the global market, the Wall Street Journal reported. Analysts say the buying spree is not over, citing the country's needs of millions of tons of cotton to feed its mills, which produce 40% of the world's cotton goods. Global cotton prices are cheaper in China.

April 27 – The average price of iron ore shipped to China has fallen to $148/ton as demand for steel was subdued amid slack manufacturing and real estate sectors, according to Metal Bulletin.

April 26 – China's demand for gold and coffee will rise, demand for metals will slow and demand crops and meats will fall in the next five years as the nation steers away from an export–focused economic structure while consumer spending is expected to gain momentum, according to a Barclays Capital report.

April 24 – Corn rose on speculation that China, the world's largest pork consumer, will buy more US grain to meet expanding demand for feed from hog producers, Bloomberg reported. China's state traders may buy US corn if price falls to $5.5 a bushel, the China National Grain & Oils Information Center said.

April 23 – China's copper concentrate imports were up 80% year on year to 345,667 tons in March and were up 77% to 1.06 million tons in the first three months of 2012, according to customs figures. China is the world's largest copper consumer.

April 23 – China's soybean imports were up 37% year on year to 4.83 million tons in March and were up 21% to 13.31 million tons in the first three months of 2012, according to customs figures. China is the world's largest soybean buyer.

April 23 – China's cotton imports were up 126% year on year to 625,196 tons in March and were up 84% to 1.57 million tons in the first three months of 2012, according to customs figures. China is the world's largest cotton consumer and buyer.

April 23 – China's corn imports totaled 471,985 tons in March and 1.74 million tons in the first three months of 2012, up substantially from 2,303 tons and 5,216 tons respectively from the same periods a year ago, according to customs figures.

April 23 – China's coal imports were up 93% year on year to 17.08 million tons in March, according to customs figures.

April 23 – China's natural gas imports were up 86.2% year on year to 1.2 million tons in March and were up 88.7% to 3.52 million tons in the first three months of 2012, according to customs figures.

April 20 – China's commercial crude oil stockpiles rose 2% in March from the previous month, according to a tracking system run by Xinhua News Agency. No exact figures were disclosed.

April 19 – China imported 9.7 billion m3 of natural gas and liquefied natural gas in Q1 2012, up 65.5% from the same period a year ago, the National Development and Reform Commission said. The nation's natural gas consumption was up 19.7% year on year to 39 billion m3 during the quarter.

April 19 – China's dependence on imported crude oil has risen to 57.9% after importing 46.31 million tons in the first two months of 2012, the latest data show. The nation produced 33.69 million tons of crude oil and consumed 80 million tons over the period. The percentage is expected to hit 60% by the end of this year, up significantly from just 6% in 1993, when China began importing the energy source.

April 17 – China consumed 45.68 million tons of refined oil in the first two months of 2012, including 28.75 million tons of diesel and 13.88 million tons of gasoline, up 1.4%, 4.3% and 13.7% respectively from the same period a year earlier, according to the National Development and Reform Commission.

April 13 – China's natural gas output was up 9.1% year on year to 11.3 billion m3 in March and was up 7.6% year on year to 33 billion m3 in the first three months of 2012, the National Bureau of Statistics said.

April 13 – China processed 38.37 million tons of crude oil in March, up 2% from a year ago, the National Bureau of Statistics said.

April 13 – China's copper output was up 8.5% year on year to 510,000 tons in March and was up 9.8% year on year to 1.39 million tons in the first three months of 2012, the National Bureau of Statistics said.

April 13 – China's sugar output was up 32.2% year on year to 2.72 million tons in March and was up 16.1% year on year to 8.74 million tons in the first three months of 2012, the National Bureau of Statistics said.

April 11 – China's annual demand for coking coal is projected to total 180 million tons by 2015, while domestic output is projected to total 80 million tons, resulting in a 100–million–ton shortfall, the National Energy Administration said.

April 10 – China's soybean imports were up 21.6% to 13.33 million tons in the first three months of 2012, according to customs figures.

April 10 – China's iron ore imports were up 6% to 187.62 million tons in the first three months of 2012, according to customs figures.

April 10 – China's crude oil imports were up 11.4% to 70.61 million tons in the first three months of 2012, according to customs figures.

April 10 – China's copper imports were up 50.5% to 1.36 million tons in the first three months of 2012, according to customs figures.

April 10 – China's aluminum imports were up 38.6% to 338,661 tons in the first three months of 2012, according to customs figures.

April 9 – China founded a rare earth industry association to better regulate and price the strategic minerals used to manufacture high–tech goods, according to Su Bo, vice minister  of industry and information technology. The association consists of 155 companies, including Aluminum Corporation of China Ltd (NYSE: ACH, SHA: 601600, HKG: 2600). China supplies 95% of the world's rare earth needs and a fragmented industry had kept export prices extremely low before they bounced back last year.

April 6 – China's silver output is estimated to rise 5% in 2012, according to an international summit on silver.