Terms of trade taking a hammering | | MacroBusiness<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"As predicted, coking coal is now breaking down in sympathy with iron ore. …..That\u2019s 10% in two weeks. Thermal coal is down 10% in two months. Ore is now down over 20% in two months. These three commodities make up 50% of the [Australian] terms of trade. via Terms of trade taking a hammering | … <\/p>\n
Continue reading “Terms of trade taking a hammering | | MacroBusiness”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,8],"tags":[290,729,1902,3367,3405],"class_list":["post-4951","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-gold-commodities","tag-australia","tag-coking-coal","tag-iron-ore","tag-terms-of-trade","tag-thermal-coal"],"yoast_head":"\nTerms of trade taking a hammering | | MacroBusiness - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terms of trade taking a hammering | | MacroBusiness - the patient investor\" \/>\n<meta property=\"og:description\" content=\"As predicted, coking coal is now breaking down in sympathy with iron ore. …..That\u2019s 10% in two weeks. Thermal coal is down 10% in two months. Ore is now down over 20% in two months. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-1hR","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":2627,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/14\/bulk-trouble-macrobusiness-com-au-macrobusiness-com-au\/","url_meta":{"origin":4951,"position":0},"title":"Bulk trouble – macrobusiness.com.au","author":"ColinTwiggs","date":"December 14, 2011","format":false,"excerpt":"These three commodities [thermal coal, coking coal and iron ore] make up half of Australia\u2019s terms of trade. The first few months of next year are not going to be kind to the TOT. Not kind at all. via Bulk trouble - macrobusiness.com.au | macrobusiness.com.au. Thermal coal: Coking coal: Iron\u2026","rel":"","context":"In "Debt Levels"","block_context":{"text":"Debt Levels","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/debt-levels\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1377,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/17\/terms-of-trade-shock-brewing-macrobusiness-com-au\/","url_meta":{"origin":4951,"position":1},"title":"Terms of trade shock brewing? – macrobusiness.com.au","author":"ColinTwiggs","date":"October 17, 2011","format":false,"excerpt":"As a simple exercise to give you some idea of where we\u2019re headed, let\u2019s refer to Rumplestatskin this morning, who shows that iron ore alone represents almost 30% of the export basket that makes up the terms of trade. Coal makes up another large component above 20%: ......So, if we\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1671,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/31\/why-the-rba-should-cut-rates-macrobusiness-com-au-macrobusiness-com-au\/","url_meta":{"origin":4951,"position":2},"title":"Why the RBA should cut rates – macrobusiness.com.au","author":"ColinTwiggs","date":"October 31, 2011","format":false,"excerpt":"Nominal house prices are falling. Not collapsing, certainly. But falling very consistently, roughly 6% peak to trough. 8.5% in real terms. This has had a number of well documented effects including high savings rates, historically conservative levels of retail sales and stalled services sector investment. .....Now, in August, the latest\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13047,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/03\/20\/china-trade-food-lng-coal-to-gain-ground-as-iron-ore-exports-slip-afr-com\/","url_meta":{"origin":4951,"position":3},"title":"China trade: Food, LNG, coal to gain ground as iron ore exports slip | afr.com","author":"ColinTwiggs","date":"March 20, 2016","format":false,"excerpt":"From Ben Potter at AFR: Iron ore sales to China are set to fall as a share of total two-way trade, while natural gas, food and even coal exports will become more important, the paper, China's Evolving Demand for Commodities, finds. A decline in Chinese crude steel production means iron\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4925,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/07\/24\/free-steak-knives-with-your-boom-macrobusiness\/","url_meta":{"origin":4951,"position":4},"title":"Free steak knives with your boom! | | MacroBusiness","author":"Colin Twiggs","date":"July 24, 2012","format":false,"excerpt":"Houses and Holes: Thermal coal is already at a price that is uneconomic for many mines and if iron ore were to settle in the $110 region, which is my call, then the margins for many an iron ore hopeful are looking suddenly thin too. If this keeps up for\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25738,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/05\/12\/iron-ore-bull-bear-outlooks\/","url_meta":{"origin":4951,"position":5},"title":"Iron ore: Bull & bear outlooks","author":"Colin Twiggs","date":"May 12, 2021","format":false,"excerpt":"Iron ore prices are soaring but there are widely differing views about how long this will last. From Investing.com: Ark Invest\u2019s Cathie Wood, whose ARK Innovation ETF was the top-performing U.S. equity fund last year.....said in a webinar Tuesday that she sees spiking commodity prices as a sign that businesses\u2026","rel":"","context":"In "China & HK"","block_context":{"text":"China & HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=4951"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4951\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=4951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=4951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=4951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}