China July commodities imports stay high; outlook weakens

SHANGHAI: China's imports of key commodities, such as iron ore and copper, held up better than expected in July, but weak trade figures and a nine-month low in crude oil imports painted a picture of a slowing economy.

China is the world's second-largest oil consumer and the top buyer of iron ore, coal and several industrial metals, with investors and miners around the world relying on its appetite to prop up commodities prices hit by sluggish demand from the United States and Europe.