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1.Market Observations, 2.Economic forecasts, 8.Was Sticky

15 Oct 2016 (AFR) – China’s horror year that wasn’t – commodities to the rescue

(15 October 2016, AFR, p10, by Angus Grigg)

‘It was just over a year ago that coal was cheaper than water in China and cabbage more expensive than steel. As bad as these prices were, the outlook was even worse. China’s economy was slowing rapidly and there appeared little appetite in Beijing to begin difficult reforms to shut down unproductive coal mines and the central government had repeatedly vowed it would not fall back on stimulus to boost growth. Such a depressed outlook had analysts pencilling in a horror 2016 for coal and iron ore. Fast forward 14 months and the opposite has proven true.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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