"While it may be too soon to know whether the sharp drop in exports will be an ongoing narrative, one thing worth noting is that China’s exports have not fallen this dramatically since mid-2009 when the international financial markets were still reeling from the U.S. financial crisis"
------------------------------------------------------- BLOODY HELL ! from macrobusiness "Here are the iron ore charts for March 10, 2014"
not able to copy the charts off but
IRON ORE SPOT $US 105.00..... REBAR 3263 -12%
"No need to adjust your television set. The prices are correct. Rebar futures fell to their lowest ever price as well. Obviously the 2012 low at $86.70 is the last remaining support for spot and I’m having trouble believing we aren’t going to plough straight through it as well.
For all of the spectacular crash in iron ore spot, it is the rebar fall that gets me. Chinese steel prices collapsing to record lows says something rather ugly about underlying demand. We haven’t yet absorbed the overnight Chinese credit data either, which was weak."
