China seems to be serious in slowing down their excessive loan growth. So they start to stay they will curb on overcapacity in various sectors. More and more comments are made indicating measures will be taken to stop the credit machine. Or better: to bring it down to more realistic levels.
One of the things where we see this happen is the slow down in imports. The Baltic Dry Index seems to tell the story after all. Less coal – mines in China are reopening – less steel – the Chinese still do not pay the price producers of ore are asking - .
As a result we see Inventories swelling in the UK (biggest coal importer of Europe) and the States. Stocks of American coal producers start to roll over
One of the things where we see this happen is the slow down in imports. The Baltic Dry Index seems to tell the story after all. Less coal – mines in China are reopening – less steel – the Chinese still do not pay the price producers of ore are asking - .
As a result we see Inventories swelling in the UK (biggest coal importer of Europe) and the States. Stocks of American coal producers start to roll over
Did you know that China produced 500,5 million tons of steel last year as the world’s largest producer. That’s more than the combined output of Japan, US, Russia and India.
In the first 7 months of this year China accounted for almost half of global output of steel of the globe.
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In the first 7 months of this year China accounted for almost half of global output of steel of the globe.
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