CHINA things have fallen in a heap over there this morning - A 3 part serious from macrobusiness
http://www.macrobusiness.com.au/
IRON ORE SPOT down to $US 114.00, and rebar down to lows of last week.
"The first batch of Chinese February data was out over the weekend and showed some staggering shifts. Exports collapsed 18.1% year on year as Lunar New Year distorted data and last year's export invoicing scams offered a high base. In month on month terms it was down 34%! Even so, when averaging January and February data, exports still fell 1.9%, the most for the period since 2009. There appears to be a sizable hit from the US winter as well with the trade surplus down two thirds month on month. And some contagion in emerging markets, which were down 20%"
