From OilPrice.com:
China is the key to the metals markets today. And there are some important signals about this market registering in the last few weeks.
Last month, I wrote about diverging global shipping indexes. The Baltic Dry Index, which tracks global shipping rates, has been falling the last several weeks. While the China Containerized Freight Index, tracking solely Chinese shipping prices, has been on a tear. The CCFI is up 12% since the beginning of January.
This could indicate an increase in goods being shipped out of China these days. And those goods might be metals...
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