Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.

4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.

"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.

Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email pete@allenwargent.com

Sunday, 12 January 2014

China's iron ore imports hit record in 2013

China's iron ore imports hit a new record high of a staggering 820 million tonnes in 2013 (2012: 743m).

And imports could surge by "another 100 million tonnes" in 2014.

It will be interesting to see whether a new monthly record is set in early 2014 or whether a slowdown is underway.

From Reuters:

"China's iron ore imports dropped 5.7 per cent in December, off the previous month's record high, as slowing steel demand towards year end curbed purchases of the steelmaking raw material in the world's top consumer.

But surging steel output through most of the year in the world's largest steel producer drove purchases of iron ore to a record high in 2013.

Arrivals fell to 73.38 million tonnes in December, easing from the peak of 77.84 million tonnes in November, but up 3.4 per cent from a year ago, customs data showed on Friday.

Imports held above the 70 million mark in four out of the six months to December.

China imported a total 820 million tonnes of iron ore in 2013, surging 10 per cent from 2012 when arrivals rose 8.43 per cent to 743.55 million tonnes.

Chinese steel output climbed 8 per cent to all-time high of 774.6 million tonnes in 2013, according to data from the China Iron & Steel Association.

Some analysts expected China's iron ore imports to rise further this year as increased overseas supply replaces higher-cost domestic iron ore mines, boosting imports.

"Iron ore imports may surge by another 100 million tonnes this year, as increased lower-cost supplies from overseas will replace expensive domestic ore and China's steel output will keep growing," said Du Hui, an analyst with Qilu Securities in Shanghai."