The Rising Influence of Rising Affluence

[hptaxis]

China buyers defer raw material cargos
http://ibnlive.in.com/news/china-buyers-defer-raw-material-cargos/259761-70.html

Singapore/London: Chinese consumers of thermal coal and iron ore are asking traders to defer cargos and – in some cases – defaulting on their contracts, in the clearest sign yet of the impact of the country’s economic slowdown on the global raw materials markets.

The deferrals and defaults have only emerged in the last few days, traders said, and have contributed to a drop in iron ore and coal prices.