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TESTING CONTENT ORIGIN
China's exports fell 14.5 per cent in July year-on-year, while imports contracted 12.4 per cent, customs data showed on Tuesday, in the worst showing for outbound shipments from the world's second-largest economy since February 2020.
A Reuters poll of economists had forecast a 12.5 per cent fall in exports and a 5.0 per cent drop in imports.
COMMENT ON IRON ORE
CAI YONGZHENG, DIRECTOR AT JIANGSU FUSHI DATA RESEARCH INSTITUTE, NANJING
"The month-on-month fall in imported (iron ore) volume in July is totally in line with our expectation as overseas shipments in the month fell. Also, the environmental restrictions (in Tangshan) hampered demand. Moreover, mills remained cautious about purchasing volumes as margins only mildly improved within the month."
