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Steel Producer News

09 Jun 2023

Larger Vessel Gains Lift Baltic Dry Index to Best Week in Three Months

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday and marked its best week since mid-March, supported by a rebound in the capesize and panamax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 15 points, or 1.4%, to 1,055, its highest level since May 30.The index was up 14.8% for the week — its biggest weekly percentage rise since March 10.The capesize index added 54 points, or 3.7%, to 1,514.

05 Jun 2023

Baltic Dry Index Snaps 16-day Losing Streak

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The Baltic Exchange's main dry bulk sea freight index rose for the first time in 17 sessions on Monday, buoyed by an uptick in the larger capesize and panamax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels ferrying dry bulk commodities, gained 20 points, or 2.2%, to 939.The capesize index added 62 points, or 5.6%, at 1,178, after posting its biggest weekly percentage fall in almost four months last week.Average daily earnings for capesizes , which typically transport 150,000-tonne cargoes such as iron ore and coal, increased $512 t

24 May 2023

Baltic Dry Index Extends Slide for 10th Straight Session

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The Baltic Exchange's main sea freight index of shipping rates for dry bulk commodities logged its 10th consecutive decline on Wednesday, hitting its lowest in two-and-a-half months as rates fell across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 53 points, or 3.9%, to 1,295 points, its biggest drop since February.The capesize index was down 110 points, or 5.4%, at a one-month low of 1,930 points, marking its biggest drop since April 18.Average daily earnings for capesizes, which typically transport 150,000-tonne ca

09 May 2023

Baltic Index Rises on Strong Capesize, Supramax Demand

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday, aided by higher rates for capesize and supramax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 40 points, or 2.6%, to its highest in eight weeks at 1,598.The capesize index was up 125 points, or 5.2%, at 2,509 — its highest since Dec. 22.Average daily earnings for capesizes, which typically transport 150…

14 Apr 2023

Baltic Dry Index Logs Worst Week in Two Months

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Friday to mark it worst week since mid-February as demand waned across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 28 points, or 1.9%, to 1,435.The index was down 8% for the week — its biggest weekly percentage fall since Feb. 17.The capesize index shed 38 points, or 2%, to 1,850. The index was down 9.4% for the week - its worst since the week ended March 31.Average daily earnings for capesizes…

12 Apr 2023

Baltic Dry Index Falls on Lower Vessel Demand

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday, pressured by lower shipping rates for all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 44 points, or 2.9%, to its lowest in more than a week at 1,463.The capesize index lost 89 points, or 4.7%, at 1,822.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, decreased $743 to $15,106.However, shipbroker Intermodal stated in a

28 Mar 2023

Baltic Index Drops to a Near 3-week Low on Lower Vessel Demand

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The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities, fell to its lowest level in nearly three weeks on Tuesday, weighed down by dwindling demand across all vessel segments. The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, fell 54 points, or about 3.7%, to 1,402, its lowest since March 9. "The markets may be hit by a curveball, with the potential threat of a cut in China's steel production looming…

13 Mar 2023

Baltic Dry Index Rises Above 11-week High

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose to an over 11-week high on Monday, propelled by stronger rates across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 41 points, or about 2.9%, at 1,465 - its highest since Dec.

06 Feb 2023

Baltic Dry Index Hits Nearly Three-year Low

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell to the lowest in nearly three years, pressured by weaker rates across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, fell 13 points, or about 2.1%, to 608, its lowest since early-June 2020.The capesize index lost 10 points, or about 2.3%, to over a five-month low of 419.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $86 a

03 Feb 2023

Baltic Dry Index Logs Fifth Straight Weekly Drop

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the fifth straight week on Friday, pressured by weaker rates across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, fell 19 points, or about 3%, to 621, its lowest since mid-June 2020.The main index was down 8.1% for the week.The capesize index lost 16 points, or about 3.6%, to over five-month low at 429.The index was down 20% for the week…

01 Feb 2023

Baltic Index Drops to Lowest Since June 2020

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The Baltic Exchange's dry bulk sea freight index fell to its lowest since June 2020, weighed by weaker demand for capesize and panamax vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, fell 13 points, or 1.9%, to 668 on Wednesday. The capesize index dropped 33 points, or about 6.2%, to its lowest in five months at 499. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient iron ore, decreased $274 to $4,137.

01 Feb 2023

Dalian Coking Coal Slumps as Traders Eye Australian Supply

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Chinese coking coal futures extended losses to hit their lowest in four weeks on Wednesday, as traders kept an eye on a batch of Australian coal cargoes expected to arrive soon in top steel producer China.Rising Chinese steel inventories also weighed on overall market sentiment, analysts said.China is seen gradually resuming Australian coal imports, having eased an unofficial trade ban imposed in 2020, as signs of warming ties between the two countries have emerged.Prices of the steelmaking ingredient have dropped nearly 5% since the start of the year.The most-traded coking coal…

16 Jan 2023

Baltic Dry Index Near Multi-year Low

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The Baltic Exchange's main sea freight index was unchanged on Monday, languishing near the multi-year low touched last week, as a slight uptick in rates for larger vessels countered a fall in the supramax segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was flat at 946 points.The capesize index gained 12 points, or about 1%, to 1,311.Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $104 at $10,874.The panamax index snapped its 15-session losing streak, gaining 2

10 Jan 2023

Dry Bulk: Panamax Rates Hit Lowest in Two Years

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped on Tuesday, on lower rates for all vessel segments as panamaxes hit their lowest level in two years.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was down 43 points, or 3.8%, to 1,096.The capesize index lost 60 points, or 3.8%, to 1,536.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $496 at $12,741.The panamax index extended its fall for the 12th consecutive day

15 Dec 2022

Baltic Dry Index Logs Best Day in Nearly Three Months

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The Baltic Exchange's dry bulk sea freight index rose on Thursday to mark its biggest one-day percentage gain since mid-September, underpinned by a jump in capesize rates.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, gained 127 points, or about 9.1%, to 1,528 - its highest since Oct. 28.The capesize index climbed 372 points, or about 21.6%, to 2,095, its highest level since Oct.

18 Nov 2022

Baltic Dry Index Posts Weekly Fall

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The Baltic Exchange's dry bulk sea freight index fell to a more than two-month low on Friday and posted a weekly decline as demand for capesize vessels dropped.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities shed 39 points, or 3.2%, to 1,189, its lowest since Sept. 8.The main index dropped 12.3% for the week, its fifth weekly fall in six.The capesize index lost 66 points, or about 5.6%, to 1,122, extending…

14 Nov 2022

Baltic Index Hits Over One-week Low

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The Baltic Exchange's dry bulk sea freight index slipped to its lowest in more than a week on Monday, pressured by declines in the capesize and supramax segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, dropped 30 points, or about 2.2%, to 1,325, its lowest since November 4.The capesize index lost 98 points, or about 6.4%, to 1,446.Average daily earnings for capesize, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient iron ore, decreased $812 to $11,995.Meanwhile, iron ore futur

10 Oct 2022

Baltic Index Falls on Dip in Larger Vessels

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The Baltic Exchange's main sea freight index fell on Monday, pressured by a dip in the Capesize and Panamax vessel segments. The overall index, which factors in rates for Capesize, Panamax, and supramax shipping vessels, was down 17 points, or 0.9%, at 1,944.The capesize index lost 55 points, or 2.3%, at 2,341.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as coal and steel-making ingredient iron ore used in construction, was down $456 at $19,418.

30 Sep 2022

Baltic Dry Index Logs Best Month in Two Years

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The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, rose on Friday and logged its best month in 2 years propelled by a corresponding rise in capesize and panamax demand.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, snapped its four-session long streak of declines to gain 3 points to 1,760. It jumped about 82.4% for the month, its best since June 2020.However, the main index registered a second straight quarterly dip…

12 Aug 2022

Baltic Dry Index Drops for Fourth Week

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The Baltic Exchange's main sea freight index fell to a fresh six-month low on Friday and posted its fourth consecutive weekly decline as rates slid across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 79 points, or 5.1%, to 1,477 points. It was down 5.3% on the week.The capesize index lost 224 points, or 14.6%, to a six-month low of 1,314 points. The index fell 6.9% for the week, its fourth straight drop.Average daily earnings for capesizes…

02 Aug 2022

Baltic Dry Index Extends Losses to Seventh Session

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The Baltic Exchange's main sea freight index posted a loss on Tuesday for the seventh straight session, its longest losing streak in about four months, pressured by lower rates across vessel segments.The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, lost 55 points, or 2.9%, to 1,817 points.The capesize index dropped 91 points, or 4.4%, to 1,971 points.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $753 to $16,374."With many routes indicating sluggish signs in term

25 Jul 2022

Iron Ore Price Soars, Fueled by hopes for China'sQ3 Rebound

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Iron ore futures soared on Monday, extending a rally spurred by hopes of an economic rebound for top steel producer and consumer China in the third quarter, and support for the country's troubled property sector.The most-traded iron ore, for September delivery, on China's Dalian Commodity Exchange DCIOcv1 ended daytime trade 7.1% higher at 711 yuan ($105.27) a ton, after earlier hitting 723.50 yuan, its strongest level since July 14.Iron ore's front-month August contract on the Singapore Exchange SZZFQ2 was up 2.2% at $105.40 a tonne…

18 Jul 2022

Baltic Index Rises on Gains on Higher Rates for Capesize Vessels

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The Baltic Exchange's main sea freight index rose on Monday as higher rates for larger capesizes overshadowed a fall in the panamax and supramax segments.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was up 12 points, or 0.56%, at 2,162 points.The capesize index .BACI rose 48 points, or 1.64%, to 2,967 points.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $394 at $24…