China imported 430,000 metric tons of unwrought copper and copper products in September 2017, in contrast to 340,000 metric tons in September 2016.
China exported 370,000 metric tons of unwrought aluminum in September, compared to 410,000 metric tons in August.
The Chinese steel industry, which has been cited for the disruption in global steel markets (MT), is outperforming most other regions this year.
On October 13, China released its trade data for September. In dollar terms, the country’s exports rose 8.1% year-over-year, and its imports rose 18.7%.
The S&P 500 started last week on a weaker note. On October 13, the S&P 500 closed the day higher and ended the week with gains.
According to research estimates, US adults will spend about 12.08 hours per day on media in 2017, compared with 10.18 hours per day in 2007.
Investors in the bond market remain anxious that there has been no clear signal from the Fed.
Equity markets consider rate hikes to be negative on stocks, but that doesn’t seem to be the case now, likely because the rate is only now being “normalized.”
FOMC members noted that labor market conditions could take a hit due to the hurricanes in August and that this was evident in the October non-farm payrolls report.
Not all members of the FOMC, according to the minutes of the meeting, were on the same page with respect to a December interest rate hike.
The September meeting minutes indicated that the members underscored that the reduction in the Fed’s balance sheet would be gradual.
In this series, we’ll discuss the September FOMC meeting minutes in detail and decide how the meeting minutes have changed the outlook for markets.
The agricultural activity in Brazil has been rising in the past few years, which has been a catalyst for fertilizer demand growth in the country.
India is another major market for NPK (nitrogen, phosphate, and potash) fertilizers. The country is partly self-sufficient in nitrogen fertilizers.
Recently, China has been moving towards a zero growth policy. The country aims to reach zero growth in using agricultural chemicals by 2020.
Among the three NPK (nitrogen, phosphate, and potash) fertilizers, phosphate fertilizers have had the worst recovery.
Nitrogen prices have been subdued for most of this year—compared to a few years ago. The global market continues to experience excess capacity.
Potash prices have bounced back stronger this year. Granular potash prices in Brazil have risen as much as 17% YoY to $274 as of the week ending October 6.
So far, agricultural fertilizer stocks haven’t delivered impressive returns this year. Most of the stocks have been in negative territory in 2017.
Despite starting this week on a weaker note, the S&P 500 regained strength as the week progressed and rose to record high price levels on October 11.