Port Hedland has released its iron ore shipments data for February and the numbers are pretty good with 27.8 million tonnes of iron ore headed out to sea, 21.3 million tonnes of which is off to China. Here's the chart: There is usually a dip in February owing to Chinese New Year and inclement weather. This year it came a bit earlier and then carried through. However, overal shipments have been held up by strong demand in Japan and North Korea. Thus the Chinese market share has broken down a little: A little indication of the malaise in Chinese steel but on the whole a better month
port headland is the major port for fortescue and BHP.
maybe FMG will do another yo-yo up again? - that's two very good months for the qtr. so o/a steady as you go for FMG.
another good month in january for retailers according to the RBA. . sales up 1.2% seasonally adjusted. are things better than i think, or are people living more on the increased equity in their real estate from the chinese driven property boom. i might have to start taking less heed of macrobusiness, i think -----------------------------------------------------------
also in january our trade surplus was up for the third month in a row. those holding shorts on retail may be in for a longer than anticipated wait before a profit begins to show up - that includes myself i will add a bit more in this area if the there is another sharp spike.
