From Dr. Mark J. Perry's blog:
The Baltic Dry Index (BDI) closed above 2300 for the first time since October 10, and reached a 7-month high today of 2332. Over the last ten days, the BDI has increased by 560 points (+32%), over the last 25 days the index has increased by 869 points (+59%). Here's one explanation from Investors Chronicle:
February to April saw the largest ever amount of iron imported by China, including more than 50 million tons in April alone. That has largely fuelled the rise in the BDI...
Read full article (chart of the BDI included)...
More on Chinese raw material consumption:
Chinese oil demand booming
China's iron ore imports exploded last month
Coming Collapse of China, author: China's economic stats are a sham
