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China bids coal imports zài jiàn

May 14, 2015 - 09:59 -- Admin

From Mac Bank: Thermal coal – Lower Chinese imports = big market problem Given the substantial cost deflation this market has experienced, China’s massive protectionism which means that imports are running 50% down YoY, the fact that China continues to overproduce domestically and that less than 10% of the seaborne industry is cash negative at current (Newcastle) price

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Hockey living in the past on China

May 14, 2015 - 09:38 -- Admin

From Dad’s Army comes Joe Hockey “I’m not as bearish as many others about China. Why? Because China must grow…Beijing needs to make sure that their country grows to create the jobs that ensures it does not have social dislocation into the future”. China will create enough jobs, yes, just not in construction any more

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Daily iron ore price update (topped)

May 14, 2015 - 09:17 -- Admin

Here are the iron ore charts for May 13, 2015: Qingdao eased and Tianjin benchmark did as well falling 0.5% to $62. Singapore 12 month swaps are still not interested. Dalian finished a little lower yesterday but is down hard overnight at 422. Rebar is shot. You could be forgiven for concluding that the top

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Abbott reinforces the super untouchables

May 14, 2015 - 09:07 -- Admin

by Chris Becker The latest on reform today from the AFR is the total abandoning of any pension/retirement changes: The Abbott government has dumped plans for an inquiry into retirement incomes and toughened its opposition to changing the tax treatment of superannuation by ruling it out beyond the next election as well. Seeking to define the pre-election battlelines

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Australia is falling apart

May 14, 2015 - 06:03 -- Admin

It’s not obvious to the uninitiated. It’s even less obvious to the system huggers. But, make no mistake, Australia is falling apart before our very eyes. To make this case I will use the four points of the sovereign compass that credit rating agencies use to gauge the strength of any economy: fiscal deficits and debt, institutional settings,

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Brick with eyes party to launch

May 14, 2015 - 01:30 -- Admin

I’ve cheered Lazo along with the best of them but the news today that former Palmer United Party senator Glenn Lazarus is to set up the Glenn Lazarus Team Party, A.K.A Brick with Eyes Party, I find more useful as a metaphor for times. Apparently Lazo will be charging into policy under the tag line “doing the hard yards

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AWU makes gig of itself supporting Twiggy

May 14, 2015 - 01:25 -- Admin

From the Herald Sun today comes  real clangor from Scott McDine, national secretary of the Australian Workers’ Union: RIO Tinto and BHP Billiton are today two of the largest and most powerful multinational corporations the world has ever known. So maybe we shouldn’t be too surprised when they decide to run an aggressive strategy of

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China’s hard landing is not under control

May 14, 2015 - 00:10 -- Admin

China’s April data dump is bad. Last night I recorded that industrial production managed a tiny bounce at 5.9% versus 6% expected: But fixed asset investment tanked at to 12% versus 13.5% expected: The key driver is real estate investment which is crashing down 17.3% January to April year on year: Finally, retail is in

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China launches QE

May 14, 2015 - 00:05 -- Admin

The latest installment of easing arrived in China last night, from the WSJ: China is launching a broad stimulus to help local governments restructure trillions of dollars in debts while prodding banks to lend more, as fresh data added to signs of a worsening slowdown in the world’s second-largest economy. In a joint directive marked

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Links 14 May 2015

May 14, 2015 - 00:01 -- Admin

Global Macro, Markets, Investing Big banks flag dangers of financial bubble in oil and commodities – Telegraph Owning a home is falling out of fashion around the world – Telegraph High-yield bonds aren’t ‘junk’ anymore — and that’s troubling – Market Watch Get ready for another oil price dip: Goldman Sachs – CNBC Why commodity

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