“Why have prices of Chinese antiques remained buoyant if not speculative?”

Earlier this week I blogged about the now-notorious mid-September auctions in Chinese antiques that took place at Christie’s in New York. As described by Souren Melikian in the New York Times, the event was a speculative frenzy, with even middling-to-poor antiques bid up many times their conservative estimates. In my post, I compared the Christie’s…

Resumption of Hostilities: The Scrap is Back! [Updated]

[UPDATED: Not sure how I did it, but somehow I managed to delete this entire post – including the comments – earlier this morning. Thanks to the generous help of an anonymous citizen at NFG World (who read my tweeted cry for help!), the full post has been restored – minus the half-dozen comments that…

Why is this recession (potentially) different from all other recessions?

A small but significant set of data points in the ongoing discussion of how – potentially – China’s economy has altered the global economy, especially as it impacts the current economic downturn. I received this first one last week from my pal Bob Garino, Director of Commodities at the Institute of Scrap Recycling Industries [ISRI] in Washington, D.C.…

Dept. of Atrocious China Journalism, Evans-Pritchard Edition

In today’s Daily Telegraph, (h/t danwei), Ambrose Evans-Pritchard notes that China’s State Reserve Board has been importing large volumes of copper “beyond the usual rebuilding of stock for commercial purposes” and speculates – without resorting to a single Chinese source – that China must be replacing its dollar reserves with metals (possibly with the long-term…