Marc Faber Discusses Chinese Economy, Stock Market On Bloomberg TV
Marc Faber softened his stance on China. Bloomberg TV Interview:
Posts Tagged ‘China’
Dry Bulk Weekly – August 1, 2010
Baltic dry index rose 7.7% last week; Capesize Index gained 12.5%; Panamax Index rose 11.4%; Supramax and Handysizes Indexes gained 0.9% and 3.3% respectively. Rates are rising a bit as some ship owners choose to anchor their ships rather than lose money on chartering them. Chinese iron ore and steel prices rose last week, bringing some optimism to the markets. […]
Dry Bulk Weekly – July 24, 2010
Baltic dry index rose 6.2% last week; Capesize Index gained 1.9%; Panamax Index rose 12.9%; Supramax and Handysizes Indexes gained 4.6% and 3.6% respectively. Commodore Research July 21, 2010: One of the most troubling signs in the Chinese economy at the moment is therecent (and relatively long-lasting) decline in steel prices. Steel prices have fallen consistently since theend […]
Dry Bulk Weekly – July 18, 2010
Baltic dry index fell 9.6% last week; The hardest hit were Capesizes with 20.3% loss; Supramaxes and Handysizes and lost 8.1% and 5.9%; Panamaxes gained 7.6%. Spot cargo demand fell last week, looks like everybody’s playing wait and see game. Nothing that could reverse the losses on the horizon. Chart 1. Baltic Dry Indexes Relative Performance Chart 2. […]
Baltic Dry Index At 1700, Down 0.5%
Down only 0.5%. Chart 1. Baltic Dry Index
China Growth Slowing Down
China Q2 GDP growth was reported at 10.3%, slowing down from Q1 growth rate of 11.9%. The slowdown came despite exports were stronger in Q2, meaning internal demand has weakened. Chart 1. China GDP Quarterly Growth¸ Urban fixed assets investments growth rate also slowed down to 23.5%. The May reading was at 25.9%. Chart 2. Fixed Assets Investment Inflationary pressures […]
Baltic Dry Index At 1709, Down 4.5%
As I wrote in Dry Bulk Weekly it appears that Chinese removal of steel export tax rebates is a complete game changer for the industry. The slowdown in Chinese iron ore imports is easing port congestion which tied approximately 20% of the world fleet a few weeks ago. The port congestion has since then eased by […]
Baltic Dry Index At 1790, Down 2.7%
Again down… Chart 1. Baltic Dry Index
Dry Bulk Weekly – July 11, 2010
Baltic dry index fell 16.6% last week; The hardest hit were Panamaxes with 20.6% loss; Capesizes lost 20.0% ; Handysizes and Supramaxes lost 10.3% and 8.9%. Chinese tax rebates on hot-rolled coil and some cold-rolled coil and galvanized products will be removed starting July 15. This makes Chinese steel exports uncompetitive and it is moving the markets. Chinese steel […]
Baltic Dry Index At 1902, Down 2.0%
Again down… Brake-even for shipowners is around 2.200, so most of of the shipping companies are losing money at this levels. Chart 1. Baltic Dry Index
Dry Bulk Weekly – July 4, 2010
Baltic dry index fell 8.8% last week; The hardest hit were Panamaxes with 19.6% loss; Supramaxes lost 6.0% ; Handysizes and Capesizes lost 5.4% and 3.3% . It looks like the Baltic Dry Index was not bottoming last week after all. Panamaxes which were more stable sector than the Capsize sector played catchup and collapsed. That was not […]
China Manufacturing PMI’s For July Turned Lower
The official China PMI fell from 53.9 to 52.1; The HSBC/Markit PMI fell from 52.7 to 50.4. From the China National Bureau of Statistics press release: Economic growth is moderating, a rebound in exports is weakening, and slower domestic demand is leading to a build-upof finished-goods inventories. Industrial production is entering a “light season” and […]
China Scaling Back Steel Capacity Additions
Bloomberg story: Baosteel Scales Back Expansion Target by 38% as China Seeks Capacity Curbs. China, the biggest steelmaking nation, has pulled back from encouraging mills to get as large as global leader ArcelorMittal as it sought to shutter old plants, curb pollution and power demand. Chinese steelmakers are likely to cut output in the third […]
Friday Reading
I already posted links on stories covering same themes, but since I believe they are important, I will do it again. FT Alphaville: The other liquidity strain — in China. FT.com Blogs / Money Supply: ECB and the €442bn question.
China / U.S. / U.K. Currency Stand-Off In 1930s
Very interesting comment in the todays Financial Times dealing with the China/U.S./U.K. currency stand-off in 1930s. The roles are a little bit changed but the lessons learnt are interesting in todays context. Finacial Times article: Lessons from the 1930s for a rising renminbi.