iron ore last july was peak, this July was down giving consideration of the efforts controlling the rapidly soaring  commodity price; In order to satisfy peak electricity consumption during the summer season, China encourages domestic mining companies to speed up; on the other hand to import more, so discharge of coal in July was over 30 million tonnes; believe August will be more to come;

Crude oil imports is pretty flat, nothing surprising due to pandemic. It will not come up sharply all of s sudden! This time of last yeat, we saw opportunities of contango, so traders hired tankers for floating storage, but now crude price is very high, traders even see opportunities of backwardation. On top of that, China rushed buying cheap oil this time of last year.

 

But good is China tries hard to reduce products oil imports, boast exports of products.