When a country is building a new skyscraper every five days, you better believe commodity demand is going to be strong. China doesn’t disappoint; it is currently gobbling up the world’s commodities and is setting consumption records.
China will continue to be one of the biggest influencers of supply and demand in 2018 as it continues to build at an unprecedented scale. Last year, China completed 77 of the world’s 144 new super-tall buildings (above 600 feet) in 36 different Chinese cities. New York for example, only has 113 buildings that are over 600 feet.
Here is a chart that displays China’s commodity dominance versus the rest the world:
China commodity demands vs. the World
Cement: 59%
Nickel: 57%
Steel: 50%
Copper: 50%
Coal: 50%
Take a look at this chart by the visual capitalist for a broader perspective:
