# Dry bulk FFA market: Last summer hurrah for freight rates - Maritimes

> The Baltic Dry Index hit a three-year high of 1,503 on September 25 before falling to about 1,429 midweek. Chinese authorities began output cuts of sintering fines and pelletizing in steel cities including Tangshan, affecting roughly 20 million tonnes of steel, which reduced iron ore and coking coal import demand ahead of China's Golden Week holiday.

- Date: 2017-09-29 · published 2017-09-29T12:00:00.000Z
- Category: logistics · region China · magnitude medium
- Page: https://feedsoft.ai/events/69167-dry-bulk-ffa-market-last-summer-hurrah-for-freight-rates-maritimes
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Chinese steel output cuts reduce seaborne iron ore and coal tonnage and soften freight demand, weighing on capesize rates and easing ocean freight costs for grain shippers in the near term.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- maritimes.gr: https://maritimes.gr/en/dry-bulk-ffa-market-last-summer-hurrah-for-freight-rates/

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