# EastGate Report | Finally some backed optimism in the dry bulk sphere - Maritimes

> Strong Chinese steel output and iron ore demand are driving capesize earnings higher. Iron ore reached a 10-year high above $180/t, and the Baltic Dry Index hit a 10-year high on strong capesize sentiment. Chinese steel mill inventories fell about 20% from mid-March to mid-April.

- Date: 2021-04-23 · published 2021-04-23T12:00:00.000Z
- Category: logistics · region China · magnitude medium
- Page: https://feedsoft.ai/events/47800-eastgate-report-finally-some-backed-optimism-in-the-dry-bulk-sphere-maritimes
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Dry bulk rate strength driven by Chinese industrial demand raises freight costs for grain and oilseed cargoes, supporting delivered feed prices.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- maritimes.gr: https://maritimes.gr/en/eastgate-report-finally-some-backed-optimism-in-the-dry-bulk-sphere/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.