Attention folks: while Chinese imports of iron ore have been up 25% since the start of this year, Chinese steel production is only up 3%. What’s happening? Inventory build-up for sure.
So be careful for those who think that the Baltic Dry Index is an indicator of economic activity. Maybe it is but also maybe not.
Sphere: Related Content
Thursday, 11 June 2009
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment