The big iron and gas dead cat bounce is not travelling well today despite Wall St hysteria Friday night. BHP is flat, RIO is up 1.2% and FMG is down -1.5%:
Big gas is faring little better given the oil rocket. WPL and STO are flat, OSH is up 0.8%, ORG is up 2.2% but LNG is down -4.7%:
Pretty ordinary and one wonders if we’re ready to roll over. China data are next in focus and this isn’t helping sentiment:
Following are South Korea’s preliminary export and import figures for January, released by the Ministry of Trade, Industry and Energy on Monday (rounded):
JAN *DEC Balance ($ billion) 5.3 7.0 Exports ($ billion) 36.7 42.5 (pct growth vs yr ago) -18.5 -14.1 Imports ($ billion) 31.4 35.5 (pct growth vs yr ago) -20.1 -19.2 * Revised figures released on Jan. 15
Korean exports down -18.5% in January. Largest export market: China.
