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Signal Ocean's June 15 weekly report says dry bulk freight rates have trended lower since mid-May, with capesize declines the sharpest. Chinese iron ore prices fell to a two-week low on renewed COVID lockdown fears, and Chinese coal imports in May were 2.3% lower than a year earlier.
Weaker Chinese import demand and falling freight rates reduce ocean transport costs for grains and feed ingredients. The softer demand outlook from China weighs on bulk commodity prices.
breakwaveadvisors.comSignal OceanJun 15, 2022Not 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.
