In The Long Run
Colin Lloyd | Mar 11, 2016 08:54
How do we square the decline in trade with the rebound in industrial commodities?
- Global Manufacturing and Service PMI are in sharp decline
- Chinese Iron Ore rallied 19% on Monday alone
- Chinese GDP and trade data points to a continued decline
- The EIA forecast US oil production to be 8.7mln bpd in 2016 vs 9.4mln last year
The price of Iron Ore, Aluminium and other industrial metals has rallied sharply over the last few weeks - WTI now seems to have followed suit. Most commentators regard this as a short covering rally. World trade continues to slow as the chart of Manufacturing and Services PMI below reveals:-
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