UNITED KINGDOM February 10 2017 2:13 PM
LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities climbed to 707 points on Thursday mainly due to higher cape, panamax and supramax indices.
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, up by 05 points to 707 points on Thursday.
While the week-long holiday in China is officially over, many factories remain closed and business activity is still ramping up. There is usually a post-Lunar New Year holiday restocking period which can boost the value of the BDI.
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