Global Macro Perspectives
Baltic dry index rose 6.9% last week; Capesize Index was down 1.4%; Panamax Index rose 5.3%; Supramax Index was up 16.0%; Handysize Index rose 7.3%.
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 fell from a all-time high reached this year, price moved lower.
Official (China Federation of Logistics & Purchasing and National Bureau of Statistics) China PMI rose form 50.5 to 51.0. Consensus was at 50.9.
HSBC/Markit PMI was reported earlier at 49.6 rising from January reading 48.8.
China retail sales rose 18.1% y-o-y in December vs. 17.3% November reading. Consensus was at 17.2%.
China fixed asset investments were up 23.8% y-o-y in December; November reading was at 24.5%. Consensus was at 24.1%.
Industrial production in China rose 12.8 % y-o-y in December; November reading was at 12.4%. Consensus was at 12.3%.
China fourth quarter GDP rose 8.9%, vs. prior reading of 9.1% and consensus at 8.7%.
China Consumer Price Index was up 4.1% in December, vs. 4.0% consensus and 4.2% November reading. Food inflation rose from 8.8% to 9.1%..
China Producer Price Index fell to 1.7% from 4.2% in November. Consensus was at 2.1%.
I’ve been quite busy on my day job in last weeks, so now when I finally have some spare time I will follow-up China macro data since the start of the year.
To sum up, Chinese authorities have started to loosen monetary policy after slowdown in manufacturing and slowdown of imports (especially imports of goods which are consumed in China).
Baltic dry index fell 1.8% last week; Capesize Index was down 3.4%; Panamax Index rose 3.6%; Supramax Index was down 3.0%; Handysize Index fell 2.3%.
Baltic dry index rose 3.0% last week; Capesize Index was up 8.4%; Panamax Index rose 0.7%; Supramax Index was down 7.9%; Handysize Index fell 3.4%.
China Consumer Price Index was up 4.2% in November, vs. 4.5% consensus and 5.5% October reading. Food inflation eased from 11.9% to 8.8%..
China Producer Price Index fell to 2.7% from 5.0% in October. Consensus was at 3.4%.
Baltic dry index rose 3.3% last week; Capesize Index was up 11.8%; Panamax Index fell 5.2%; Supramax Index was down 3.3%; Handysize Index fell 2.5%.
Official (China Federation of Logistics & Purchasing and National Bureau of Statistics) China PMI fell form 52.0 to 50.9. Consensus was at 49.8.
Baltic dry index fell 4.6% last week; Capesize Index was down 5.7%; Panamax Index fell 2.0%; Supramax Index was down 0.1%; Handysize Index fell 3.3%.