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Capesize rates rallied as China's iron ore imports in 2023 exceeded the 2021 record and Chinese steel mills restocked. The People's Bank of China cut the reserve requirement ratio for state banks by 0.25 percentage points to 5%.
Panamax operators expect a firm North American grain season, with grain fixtures for early October loading.
Stronger China steel activity and early-October North American grain fixtures point to firmer ocean freight for grain exports in the coming weeks.
splash247.comSplashSep 26, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
