China released its February trade data over the weekend and it showed a marked divergence in exports and imports. The former took off at 48.3% while the latter was walloped 20.6%. The two month Jan/Feb figures which help smooth out CNY holiday distortions had exports up 15% and imports down 20.2%:
Needles to say, the trade surplus hit a new record high at $60.6 billion:
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For Australia, iron ore import volumes were up 11% year-over-year but dropped 39% in value.