China’s imports of major commodities presented a mixed picture in July, with crude oil undeniably weak, but some signs of life in industrial metals such as copper and iron ore. The standout performer was coal, with arrivals jumping some 23.9% from the prior month, but this was likely driven by short-term factors and doesn’t alter the overall picture of a weaker trend in commodity imports so far this year. China, the world’s biggest crude buyer, imported 8.79 million barrels per day (bpd) in July, fractionally above June’s 8.72 million bpd, according to official data released on Sunday. While a small increase from the prior month may not look too bad, it’s worth noting that June and July were the weakest months for imports in four […]