China reported strong imports of crude oil and copper in January, the latest in a series of upbeat data that have propelled the price of several commodities to their highest in months.

China is the world’s biggest consumer of many commodities, including copper, cotton and iron ore, and analysts and investors watch its trade data for signals about demand trends.

While some investors are fretting about a collapse in the Chinese housing market and a “hard landing” for the country’s economy, many commodity traders are becoming increasingly optimistic about the prospects for demand as a government-induced credit crunch that had weighed on buying is coming to an end.