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China figures point to green shoots

LAST week, the Baltic Dry index, which is a benchmark measure for freight costs of bulk commodities including iron ore, coal and grains, rose 22.5 per cent to hit near the highest levels seen since October 2008, on signs of stronger demand for imports of commodities from China. This move supports the market's current optimistic recovery and backs up recent data out of China, suggesting a strong pick up in industrial production is under way.

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