Australia October Trade Surplus AUD+11.22bn With Exports Lower on Iron Ore Prices

Australia posted a trade surplus of A$11.22 billion in October exceeding expectations for a surplus of A$11.0 billion. It was the smallest trade surplus since May, amid softening global demand as more countries battled with a resurgence of coronavirus infections. Follows a downwardly revised A$11.82 billion trade surplus in September (from A$12.243 billion). Exports fell 3.0% m/m or A$1.491 billion to A$43.053 billion. Goods were down 3.0% and services fell 6.0% Imports also slipped 3.0 percent on month or A$887 … Continue reading “Australia October Trade Surplus AUD+11.22bn With Exports Lower on Iron Ore Prices”

China to Tighten Hold on Rare Earths Market By Creating Single State Entity Controlling 70% of Chinese Production

China controls the majority of rare earths and is looking to assert greater control over the sector. It will combine three rare-earths producers to create a single state-owned company with nearly 70% share of domestic production with a American companies dependent on rare earths the motive is clear. China wants to give the impression  the move is to accelerate the development of resources and processing technology. However. two factors stand out. One is an attempt to give Beijing control over … Continue reading “China to Tighten Hold on Rare Earths Market By Creating Single State Entity Controlling 70% of Chinese Production”

Record High Chinese Coal Futures Prices After Biggest Coal Producing Region Floods

Coal prices have risen unabatted with supply chain disruptions, China has been partiucarlt bad hot and that just got more critical. Floods closed 60 of the 682 coal mines in Shanxi province, 30% of China’s production.

Desperate China Orders Inner Mongolia Coal Mines To Boost Production by 55%

The energy crisis is ravaging China, as coal prices soar to unseen prices North China’s Inner Mongolia autonomous region have been ordered to boost output by nearly 100 million tons. 72 mines in the three cities There are 72 mines in 3 cities under the directive.

Hong Kong’s Mandatory Provident Fund Hit By China Evergrande Contagion Has Worse Performance Since 2018

Hong Kong’s compulsory pension scheme MPF lost each member HK$10,800 (US$1,387) in the third quarter as China regulatory and Evergrande debt crisis converged in a perfect storm to crack markets lower.

Bloomberg Commodity Spot Index Soars To Record Highs With Food and Energy Crisis

A key guage of Commodities prices which tracks 23 energy, metals and crop futures contracts continued to surge higher over record highs set in 2011. Incredibly since hitting a four-year low in March 2020 the index has surged more than 90%.

U.S. Trade Deficit Rises As Imports Continue To Grow Faster Than Exports

The US trade deficit in August was $73. 3Billion up from prior month’s $70.30 billion. The China and US trade deficit rose to -$28.1B. By contrast Australia’s trade balance for August revealed a massive surplus of AUD15,077 million

General Motors To Invest USD300 Million in Chinese Autonomous Vehicle Startup Momenta

General Motors $GM will invest USD300 million in Chinese autonomous vehicle startup Momenta. This investment is a strategic partnership that will support GM in building autonomous technologies for future models in China

China’s Economic Deceleration Highlighted By Factory Contraction First Time Since Pandemic Begun

China’s economy has been wobbling in the worse energy crisis it’s had since it’s shift to faux capitalism. Chinese factory acivity contracted in September for the first time since the pandemic began.