Coronavirus Hits China’s Crude Oil, Iron Ore, Coal Imports
February 14, 2020
Calculating the exact impact on commodity markets from the Coronavirus epidemic in China, is still a fraught process with too many unknown variables, but there are some early signs of the effect on physical shipments.
China’s imports of crude oil and iron ore, so far in February, are running at levels well below the preceding months, and also, from the same month last year, according to vessel-tracking and port data compiled by Refinitiv.
To be clear, what the numbers show is that the rate of discharge of cargoes is considerably slower, while the queue of vessels waiting to offload at Chinese ports seems to be longer than usual.
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Source: gCaptain; Reuters
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