China imports huge volumes of ethanol
Traders speculate that the spike could signal Beijing's intentions to ease restrictions on its biofuels market
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New York
RECENT news from China makes depressing reading for commodities producers, with a slowing economy, tumbling stock prices and a currency devaluation all signalling weaker demand.
There is one exception: the world's second biggest economy has begun importing ethanol in volumes big enough to stir hopes that it might herald an opening of a major, until now barely accessible, market. "If it becomes constant, that's big news. China's a place where everyone looks and says, 'what if'," said Jordan Fife, a merchant with BioUrja Trading LLC in Houston.
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