Baltic Dry Index drops further to below 950 points

Published: Dec 19, 2016 19:41

Save

The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities dropped to below 950 points on Friday as cape, panamax and supramax indices continued to fall.

UNITED KINGDOM December 19 2016 2:34 PM

LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities dropped to below 950 points on Friday as cape, panamax and supramax indices continued to fall.
The Baltic Dry Index, which provides an assessment of the price of moving the major raw materials – such as coal, iron ore and grain – by sea by taking in 23 shipping routes measured on a time charter basis, down by another 20 points to 946 points on Friday.
According to market participants, the market is fundamentally improving and barring a severe disruption to the world economy, it should be plain sailing from the second quarter onwards.
Even though a winter slowdown is expected, analysts had hoped that the BDI could see some support from China’s demand for thermal coal during its winter peak demand season.
China’s appetite for imported coal has grown this year as the country has cracked down on its domestic miners.

copper aluminum lead zinc nickel tin

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

2 hours ago

Operating Rate of SMM Scrap-Derived Copper Anode Producers 58.81%

[SMM Copper Anode] After the holiday, scrap-derived copper anode producers in China had all resumed normal operations. From March 6 to March 12, the operating rate of SMM scrap-derived copper anode producers was 58.81%, up 10.43 percentage points MoM. As the price difference between primary metal and scrap narrowed and copper anode RCs remained high, the operating rate is expected to fall to 58.72% next week.

2 hours ago

3 hours ago

Yukun Materials' Phase II Recycled Copper Ingot Project Nears Completion, Aims for 100,000 Tons Annual Capacity

At the Phase II construction site of Yukun Materials Technology Co., Ltd.'s recycled copper ingot project, it can be seen that the main structure of the plant has been completed. The entire project is expected to be fully finished in the second quarter. With a total investment of 1.08 billion yuan for Phase II, the annual production capacity of recycled copper ingots is projected to reach 100,000 tons once it reaches full operation.

3 hours ago

This Week, the Operating Rate of the Enamelled Wire Industry Rebounded to 85.13%

Supported by ample earlier orders and full production schedules, the operating rate of the enamelled wire industry rose 4.06 percentage points WoW to 85.13% this week. According to enterprise feedback, new orders underperformed expectations this week. Affected by downstream wait-and-see sentiment amid falling prices, enterprises were relatively cautious in placing orders, and new orders increased by only 0.11 percentage points.

3 hours ago