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Splash reports that dry bulk freight rates rose in mid-March as Chinese steel markets picked up, then paused as the month went on. China's central bank cut the reserve requirement ratio by 0.25% on March 24, and iron ore fell nearly 10% in March.
Ships are repositioning from the Atlantic back to the Pacific.
Freight rates are tied to Chinese steel and infrastructure demand, which also drives the mix of ships available for grain cargoes. The outlook is mixed, so the effect on feed freight costs is limited.
splash247.comSplashMar 28, 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.
