10 month losing streak of U.S. imports, news by Hebei Longsheng
| U.S. imports have returned to growth in August with U.S. seaborne imports having climbed 6.8% higher year over year in the first 15 days of the month. That follows a 10 month downturn in the wake of the U.S.-China trade war and the impact of COVID-19. The surge will likely exacerbate emerging congestion at major ports. Imports from China surged 14.3% higher year over year in the first half of August after increasing by 4.3% in July as the peak shipping season for Chinese consumer goods supplies gets underway. Exports from the EU rose by 7.5% after falling 13.9% in July after a slow reopening of industries in the wake of COVID-19 disruptions. Growth was not universal with shipments from Asia ex-China down by 4.6% due to a continued decline in imports from Japan likely linked to poor capital goods demand. By Hebei Longsheng Metals & Minerals Co,. Ltd. |
