Global Macro Perspectives
Baltic dry index rose 0.3% last week; Capesize Index was also up 0.3%; Panamax Index fell 1.9%; Supramax Index was down 0.6%; Handysize Index rose 3.6%.
Iron ore inventory at Chinese ports close to all-time high; price pretty much unchanged. Steel stockpiles spiked upwards while price remained flat. Thermal coal inventory moved to all-time high, price moved lower.
Baltic dry index fell 10.9% last week and has reaching all-time low; Capesize Index was down 2.0%; Panamax Index fell 15.0%; Supramax Index was down 12.5%; Handysize Index fell 10.3%.
FT Alphaville: US unemployment “progress”
FT Alphaville: That Eurozone repo contraction, charted
FT Alphaville: The word from Zug – Xstrata confirms Glencore approach
Sober Look: Copper inventories shift from LME to SHFE
Tech Crunch: You Know What’s Cool? $1 Billion In Profits
FT BeyondBRICs: IMF to Argentina: so close, yet so far
FT BeyondBRICs: Brazil’s Vale: no more “no comment”?
Calculated Risk: U.S. Light Vehicle Sales at 14.18 million annual rate in January