Biggest fall in Chinese exports in seven years hits UK mining shares

Hands up who wants cobalt. Image of Dongtai Lu antique market figurines in Shanghai, 2007 by claudio zaccherini /

Shares in mining companies fell heavily in the City after the biggest fall in China’s exports in almost seven years rekindled concerns about the impact of a slowdown in the world’s second-biggest economy on the rest of the world.

Official figures released in Beijing showed that exports in February were down 25.4% on a year earlier, the worst performance since May 2009, the trough of the global recession. News that imports were down by 13.8% – the 16th successive decline – resulted in a reversal of the recent rally in the price of oil and industrial metals.

Read more at The Guardian

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