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China’s Surging Commodity Exports Suggest Weak Domestic Demand

China’s Surging Commodity Exports Suggest Weak Domestic Demand

China’s copper, diesel, and alumina exports soared in June compared to the same month of 2023, with copper exports surging to a record high as sluggish domestic demand amid weaker-than-expected economic growth is weighing on Chinese commodities consumption. Last month, Chinese copper exports jumped by 187% to an all-time high, per official Chinese data reported by Bloomberg. Diesel exports soared by 180% as domestic demand is weak on the back of the property crisis with tepid demand in the construction sector and sluggish fuel demand…

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