Global markets: China’s Q2 growth expected to be in line with Q1

By Commodity News Service Canada

WINNIPEG, May 9 – The following is a glance at the news moving markets globally.

CHINA’S ECONOMY EXPECTED TO GROW 6.7 PER CENT
China’s economy is expected to grow 6.7 percent in the second-quarter, due to gains in the infrastructure and property markets, according to estimates from within the country.

China’s economy also grew 6.7 per cent in the first-quarter.

CHINA’S COAL, COPPER IMPORTS DROP
China’s coal imports dropped 5.8 per cent from year-ago levels at 18.80 million metric tonnes, according to reports on Monday.

Coal imports were down 4.5 per cent from April’s levels.

Imports of copper also dropped in April, as the country has accumulated high stockpiles of the commodity.

Imports fell to 450,000 metric tonnes in April, from 570,000 tonnes in March.

CANADIAN CRUDE PRODUCTION UP IN FEBRUARY
Canada produced 18.5 million cubic metres of crude oil and equivalent products in February, up two per cent compared with the same month in 2015, Statistics Canada said in a report on Monday.

Exports of crude oil and equivalent products totalled 14.6 million cubic metres in February, up 8.5 per cent from the same month in 2015, and represented 71.5 per cent of total disposition.

According to StatsCan, imports to Canadian refineries decreased 24.2 per cent to 1.9 million cubic metres and represented 9.3 per cent of total supply.

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