18.10.2012 - Lower China GDP growth means lower commodity prices in 2013
While August was weak for crude oil imports, will iron ore imports show a different story? Although iron ore imports surged to 65.01 million tons in September, the highest since January 2011, this could be due to spot iron ore prices falling from $137 per ton in late June to $86.70 per ton in early September, prompting mills to stock up on cheap iron ore ahead of the Golden Week holiday in October. Coincidentally, Australia’s Port Headland is reported as seeing a 9.5 percent decline in new shipments in September, suggesting October’s imports into China may be significantly lower...............................................Full Article: Source
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