China spends January stocking up on copper, crude oil and iron ore

Data also show value of imports and exports rises by about 10%

Driven by economic growth and a need to restock, China's imports for crude oil and key commodities surged to a record high in the first month of the year.

Imports of crude oil, iron ore and copper are often evaluated as a sign of China's economic strength, but a weeklong Lunar New Year holiday, which began on Jan 31, can affect the market to certain extent when manufacturers increase their inventories for production during the holiday.