Posted on 03/12/2010 9:57:44 AM PST by goldenwings
The China Containerized Freight Index has bee-lined upward in 2010. The index tracks shipping prices for goods sailing from China to 11 different regions around the world.
Between January 15 and February 26, the index rose 17%. During the same period, the Baltic Dry Index (which tracks average shipping prices globally) fell 18%.
As I mentioned, these numbers suggest a big increase in goods being shipping from China relative to the rest of the world. With anecdotal evidence that at least some of the exports were metals.
The fear being that Chinese metals stockpiles are being drawn down and re-exported. Potentially weighing on global prices.
But the upward pressure on shipping prices relented a little this past week. The China Containerized index fell 3%. The first decline since December 18. And the largest since early in 2009. Full article at: Shipping Indices
Interesting.
They’re not going to need the ‘stuff’ afterall?
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