China’s imports of soybeans and crude oil climbed sharply in September compared with a year earlier, even as coal shipments declined, according to customs data released on Monday. The increase reflects Beijing’s growing reliance on diversified trade partners amid ongoing tensions with the United States.
Soybean imports reached 12.87 million metric tons, marking a 13.2% year-on-year increase and the second-highest monthly level on record. The rise was fueled by strong purchases from South America, as Chinese buyers continue to pivot away from U.S. supplies due to persistent trade frictions.
Crude oil imports also rose, up 3.9% year-on-year to 47.25 million metric tons, driven by steady domestic demand and refinery expansions. In contrast, coal imports declined 3.3% to 46 million tons, reflecting China’s push toward cleaner energy sources and a slowdown in industrial power use.
Other key commodities showed mixed trends. Iron ore imports climbed 11.7% to 116.33 million tons, buoyed by infrastructure investment and steel production, while unwrought copper imports edged up 1.3% to 485,000 tons. Rare earth exports, however, fell 4.3% to 4,000.3 tons, consistent with tighter government controls on strategic mineral shipments.
On the trade front, China’s exports grew 8.3% year-on-year in September, accelerating from a 4.4% gain in August and surpassing economists’ expectations of a 6% rise. Imports increased 7.4%, well above the modest 1.5% forecast. Analysts say the data underscores China’s ability to find alternative export markets and sustain industrial output despite the absence of a tariff agreement with Washington.
Economists view these figures as evidence of China’s shifting trade strategy as the U.S.–China trade dispute continues to reshape global supply chains.
