The US trade deficit in June was $79.6 billion (consensus $81.7 billion) from a revised deficit of $84.9 billion (from $85.5 billion) in May. The China and US trade deficit rose to -$36.95 billion vs. May deficit $-31.54 billion. Exports were up 3.5% to a record high of $260.8 billion, led by natural gas. Imports fell again to $340.41 billion vs. May $341.43 billion These monthly swings are also influenced by the supply crisis affecting orders and deliveries. Highlights International trade … Continue reading “U.S. Trade Deficit -$79.6 Billion, China Gap Rises to -$36.95 Billion”
The US trade deficit in April was $87.20 Billion down from prior month’s record $-107.7 billion. The China and US trade deficit fell to -$30.57 billion vs. $-34.00 billion last month. Exports were up 3.5% to a record high of $252.6 billion, led by natural gas. Imports collapsed to -3.4% from March rise +9.6%. These monthly swings are also influenced by the supply crisis affecting orders and deliveries. Highlights International trade balance $-87.2 billion vs. $-89.5 billion estimate. The prior … Continue reading “U.S. Trade Deficit Pulls Back from Record as Exports Rise Led by Natural Gas, Petroleum Products and Soybeans”
The US trade deficit in December was $80.70 Billion up from prior month’s $79.30 billion. The China and US trade deficit rose to -$355.3 B for the year. The US trade gap for 2021 in both goods and services rose 27% to hit $859 billion, an annual record as imports grew faster than exports. Imports surged 20.5% with higher prices from inflation and tariffs. Highlights The US trade Deficit rose in both goods and services rose 27% to hit $859 … Continue reading “U.S. Trade Deficit Soars 27% to Record $859 Billion in 2021 as Imports surge from Inflation and Tariffs.”
Drewry’s composite World Container Index is up 119% year on year and increased marginally to $9,304.05 per 40ft container heading into Christmas. The Baltic Exchange Dry Index fell for the eleventh session on Thursday, as weaker capesize rates overshadowed gains in the panamax vessel segment. Drewry said on Thursday, 23 December 2021 the average composite index of the WCI, assessed by Drewry for year-to-date, is $7,555 per 40ft container, which is $4,756 higher than the five-year average of $2,799 per … Continue reading “Drewry World Container Index 119% Higher Year on Year”
The Chinese trade surplus surged to a record high of USD 84.54 billion in October 2021 from USD 57.32 billion in the same month a year earlier. Exports rose by 27.1 % year-on-year to USD 300.22 billion; extending double digit gains for the 13th month.
Australian mining giant Rio Tinto Group (RIO) on Friday reduced its 2021 Pilbara iron ore shipments forecast as the COVID lockdowns, Supply crunch were further hampered by a tighter labour market in Western Australia. These have all led to a delay of the completion of a new greenfield mine at Gudai-Darri.
Australian mining giant Rio Tinto Group(RIO)on Friday announced it is delaying first production for the Oyu Tolgoi copper mine in Mongolia by three months to January 2023. $RIO is developing the mine with Canada’s Turquoise Hill Resources (TRQ.TO) in a joint venture.
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
The US trade deficit increased 3.1% to $71.2 billion in May as rebuilding inventories for rising demand in a reopening economy pulled in imports. Goods imports rose 1.2% to $234.7 billion and exports of goods gained 0.3% to $145.5 billion, a record high.
Iron ore prices have continued to rise sharply following ongoing Chinese industrial output, Prices for iron ore cargoes with a 63.5% iron content for delivery into Tianjin jumped to $172 per tonne in the third week of January. The highest level since October of 2011. At the same time Rio Tinto saw a 2.4% rise in Q4 iron ore shipments.