China’s Nov trade data (Yuan terms): Surplus expands on exports surge

China's trade balance for November, in Yuan terms, came in at CNY+263.60 bn vs +231.0 bn expected and +254.47 bn last. Exports came at 10.3% y/y vs 2.0% expected and 6.1% last, while imports were +15.6% y/y vs 12.5% expected and 15.9% last.

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Jan-Nov Iron Ore imports up 6% YoY at 991M tonnes.

Jan-Nov Crude oil imports +12% YoY at 386M tonnes.

Jan-Nov unwrought copper imports -5% YoY at 4.24M tonnes.

Jan-Nov Steel products exports -30.7% YoY at 69.83M tonnes.

Nov iron ore imports at 94.77M tonnes.

Crude oil imports at 36.92M tonnes.