Insight - China’s commodity imports and the supercycle

Crude oil imports in May were 40.97 million tonnes, equivalent to about 9.65 million barrels per day (bpd), down from 9.82 million bpd in April and 14.6% below the 11.3 million bpd in May last year. (File pic shows an oil complex near Dalian, China)

THE bullish shine surrounding commodities may have lost some of its lustre, with imports in May by top buyer China looking unimpressive, and far from levels associated with a new supercycle.

Imports of major commodities crude oil, iron ore, copper and coal all dropped in May from the prior month, according to customs data released.