Thursday, July 22, 2010

$SPX and $RUT charts for 7/21/2010

1 comment:

Hopper said...

Hi Mark,

7/14/10 (Economist) FOR most of the past two decades the main measure of shipping costs has been used as a guide to what is happening to world trade. So the fact that the Baltic Dry Index—which measures the rates charged for chartering the giant ships that carry coal, iron ore and grain—has fallen by almost 60% in its longest streak of consecutive declines for nine years (34 days running as of July 14th) has won attention.
7/13/10 Ports in China posted a 19% growth in throughput to 3.18 billion tonnes in the first five months. The container freight volume increased 22.5% to 56.3 million TEU.
7/7/10 (DJ) Depressed iron ore demand from Chinese steel mills has been pressuring shipping rates over the last month, with iron ore a key ingredient in steel production and the main product in dry bulk shipping. Chinese spot iron ore prices are near $US125 per tonne, a steep discount to the all-in cost of having it shipped from Australia, which is at $US155 per tonne.
7/1/10 (Bloomberg) -- Commodity shipping costs measured by the Baltic Dry Index extended their longest losing streak in almost five years on a surplus of ships for hire.