China’s Building Sales Have Started to Pick Up
China’s building sales We’ve already seen how China’s real estate climate index has been declining. Now let’s look at some other indicators of China’s real estate demand. The construction sector accounts…
Goldman Sachs believes that iron ore prices could fall by ~30% over the next 18 months due to supply expansions amid weakening demand.
July’s aggregate financing, China’s broadest measure of new credit and liquidity, came in at 718.8 billion yuan against 1.86 trillion yuan for June.
Traditionally, July is a slow month for auto sales, however, July 2015 turned out to be even weaker. Auto sales fell by 7.10% in July 2015 compared to July 2014, which is the largest fall since February 2013.
China’s real estate climate index was up 0.40 basis points to 93.03 in July. Prior to this gain, the index had fallen in every month but October since February 2014.
The final reading for the Caixin China General Manufacturing PMI came in at a 15-month low of 47.8 in July, compared to 49.4 in June.
China consumes about two-thirds of seaborne iron ore. China’s iron ore imports in July reached 86.1 million tons, an increase of 4.3% and a high for 2015.
China’s iron ore port inventory is a key indicator that reflects the supply and demand balance, as well as the safety net and imbalance between the iron ore supply and the steel mill demand.
Brazil accounts for about 25% of the global market share of iron ore’s trade volume. Vale SA accounts for the bulk of the iron ore exports from Brazil.
Iron ore exports from Port Hedland totaled 35.3 million tons in July, compared to a record 38.4 million tons in June. This represents a decline of 2.2% year-over-year.
Japan accounts for 10%–13% of the seaborne market, making its iron ore imports a good indicator of iron ore demand. For 1H15, Japanese imports declined by 3.2% compared to the same period last year.
The Chinese yuan depreciated by 1.8% on August 11, as the People’s Bank of China aimed to boost the depressed economy and push exports.
Since the end of July, benchmark iron ore prices have held steady near $55–$56 per ton. In this series, we’ll see how recent data releases from China have impacted iron ore prices.
According to the World Gold Council, 2Q15’s gold demand plummeted by 12% since 2Q14. The demand stands at 914.9 tons for 2Q15, a six-year low, as demand in 2Q14 stood at 1,038 tons.
Last week, gold again displayed its safe-haven appeal as China devalued the yuan. On August 14, gold touched a high of $1,120.40 per ounce, settling at $1,112.70 per ounce.
China’s recent devaluation of the yuan by ~1.9% sent ripples through global equity markets. The yuan’s devaluation could have an adverse effect on the Fed’s possible interest rate hike.
New yuan loans for July amounted to 1,480 billion yuan, compared with 1,279 billion yuan for June. Economists expected the new yuan loans to come in at 738 billion yuan.
In this article, we’ll explore which way Chinese copper consumption could be headed in 2015. Investors should closely watch how Chinese copper consumption is playing out.
Over the last couple of years, Freeport-McMoRan has become a major energy producer and so is affected by lower energy prices.
Now we’ll look at Chinese real estate demand indicators. The data are released monthly by the National Bureau of Statistics of China.
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