- SOURCE: EquityPandit.com | Written by
Abhishek Parakh on June 11, 2009 at 8:16 pm
The global economy is throwing up pretty mixed signals currently. As per estimates, Chinese exports fell 26% in the month of May, meaning that the major economies like the US, Europe and Japan are still facing the slowdown blues. Therefore, if the demand continues to remain weak, what explains the 42% surge in S&P's GSCI, an index of global commodity prices? If New York Times is to be believed, the answer could be found alongside China's coast. At last count, atleast 90 large freighters full of iron ore were cooling their heels along China's ports, awaiting their turn to unload as the country's port storage facilities appear to be overflowing. And iron ore is ...