Workflow
中国9月大豆、铁矿石进口创同期新高、稀土出口环比跌31%、铜金属进口触及年内新高
Hua Er Jie Jian Wen·2025-10-13 06:55

Core Insights - China's imports of soybeans, iron ore, and coal significantly increased in September, with soybean imports reaching the second-highest level in history, while iron ore and coal imports hit their highest levels of the year. Copper imports surged, but natural gas imports continued to decline [1][6][8]. Import Data Summary - Total imports in September amounted to 16,990.8 billion RMB, reflecting a year-on-year increase of 7.5% and marking the fourth consecutive month of growth [3]. - Soybean imports reached 12.87 million tons, a 13.19% increase year-on-year, marking the second-highest September on record [6][12]. - Iron ore imports totaled 11.633 million tons, an 11.72% increase year-on-year, setting a new record for the same period [6][12]. - Coal imports rose to 4.6 million tons, the second-highest September figure recorded, although lower than the record of 4.759 million tons set in 2023 [6][12]. - Crude oil imports were stable at 4.725 million tons, indicating improved refinery utilization rates [7][12]. - Natural gas imports fell by 7.8% year-on-year to 1.105 million tons, reflecting structural changes in demand and increased domestic supply capabilities [8][9]. - Copper ore imports decreased by 6.3% month-on-month, while imports of refined copper surged by 13% to 48.5 tons, indicating a shift in market dynamics due to supply chain disruptions [10][11]. Export Data Summary - Total exports in September were valued at 23,445.5 billion RMB, with a year-on-year growth of 8.4%, marking the highest growth rate in six months [3][4]. - Rare earth exports fell to 4,000.3 tons, the lowest level since February, but the total export value increased by over 8% from the previous month, indicating rising prices [4][5]. Year-to-Date Trends - For the first nine months of the year, imports of integrated circuits, copper ore, and soybeans showed growth rates of 8.9%, 7.7%, and 5.3% respectively, while imports of refined oil, steel, and coal declined by 17%, 12.6%, and 11.1% [11][13].