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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Jim Willie CB who wrote (27884)	3/5/2005 11:50:05 AM
From: russwinter	of 110194

China Train Wreck/Hit the Wall watch: March 2 – Financial Times (Geoff Dyer): “China’s steel industry yesterday accepted the 71.5 per cent increase in iron ore prices proposed by two of the biggest suppliers just a week after it warned of the damage from such a price rise… Guy Dolle, Arcelor chief executive, told the FT…”I don’t understand why for the first time the Asians have taken the lead in the negotiations, because the biggest clients for the iron ore producers are in Europe.” March 2 – Bloomberg (Samuel Shen): “China’s inflation may accelerate to 2.5 percent in the first quarter, driven by increases in energy and transport prices, the nation’s top economic planning agency forecast. Bottlenecks in raw materials such as coal are worsening while a cold spring will increase storage and transport costs for vegetables, the National Development and Reform Commission said in a report published in the China Securities Journal.” February 28 – XFN: “China’s electricity demand is forecast to rise 13%...in 2005… the official Xinhua news agency reported. China faces growing power shortages due to a combination of planning mistakes, strong economic growth, decreasing water supplies for hydroelectric power generators and disruption of coal supplies.” February 27 – Bloomberg (Zhang Shidong): “China’s electricity consumption rose 15 percent last year, the official Xinhua news agency reported, citing the China Electricity Council.” February 28 – XFN: “China’s breakneck economic growth is causing a dangerous shortage of its most important energy source -- coal -- with potential consequences for the entire world, the China Business Weekly reported… The scarcity is so severe that officials even worry aloud that it could cause social instability among the 1.3 billion Chinese, the state-run newspaper said. ‘The imbalance between coal demand and supply will become more acute this year,’ the newspaper quoted the National Development and Reform Commission as saying.”

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