Insight - Commodity imports ruffled by Ukraine crisis

China may find difficulties in arranging cargoes from Russia in coming months. It may struggle in that case to secure sufficient volumes, given Beijing’s ongoing informal ban on buying from Australia, which used to be the second-biggest source of imports.(FILE PHOTO: An autonomous vehicle drives along a road as it collects iron ore at Australia's Fortescue Metals Group mine in the Pilbara region, located south-east of the coastal town of Port Hedland in Western Australia)

CHINA’S imports of major commodities appeared largely steady to even somewhat soft in the first two months of the year. But the bland figures mask some dynamic shifts, which are likely to be exacerbated by the ongoing Ukraine crisis.

Official customs data released on Monday showed the world’s biggest commodity buyer imported less crude oil, natural gas, coal and iron ore in January and February, but boosted purchases of copper.