China’s Surging Commodity Exports Suggest Weak Domestic Demand

China’s copper, diesel, and alumina exports soared in June compared to the same month of 2023, with copper exports surging to a record high as sluggish domestic demand amid weaker-than-expected economic growth is weighing on Chinese commodities consumption. Last month, Chinese copper exports jumped by 187% to an all-time high, per official Chinese data reported by Bloomberg. Diesel exports soared by 180% as domestic demand is weak on the back of the property crisis with tepid demand in the construction sector and sluggish fuel demand…