China commodity appetite rises to a record high

China continues to gobble up the world's commodities, setting new records for consumption of everything from crude oil to soyabeans. In a year of flux marked by industrial capacity cuts, environmental curbs and financial deleveraging, demand for raw materials has continued to grow in the world's biggest consumer, helping drive a second annual gain in global commodity returns. As President Xi Jinping consolidates power behind an economy that may have posted its first full-year acceleration since 2010, there are few signs of the commodity juggernaut slowing as it rolls into 2018. The crown of the world's biggest oil importer now sits firmly atop China after its shipments surpassed the US on an annual basis for the first time ever.