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Record heat around Beijing, with forecasts above 40C across several northern Chinese cities, is disrupting the Dragon Boat holiday and some factory output. Freight markets in the Pacific were not yet affected, with Australia-China capesize iron ore rates at $8.80 a tonne as of June 23.
Heat-driven factory closures could slow Chinese industrial and feed-related demand, while coal and iron ore freight remained firm. For feed buyers the effect on ocean grain freight is limited for now.
splash247.comSplashJun 27, 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.
