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Reply #8: Baltic Dry Index has worst week since October meltdown as Chinese demand slows [View All]

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ozymandius Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Aug-11-09 05:12 AM
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8. Baltic Dry Index has worst week since October meltdown as Chinese demand slows
The Baltic Dry Index, which tracks shipping costs and is viewed as leading indicator for commodity prices, has had its worst week since the peak of the financial crisis last October, as Chinese demand slowed.

The index fell from 3,350 to 2,772 this week a fall of 17.2pc - as imports of iron ore and coal slowed down. The index is now 35pc lower than its 2009 high, hit on June 3.

.....

However, some believe that imports have slowed down as Chinese steel mills are still locked in talks over the pricing of iron ore imports over the next 12 months.

http://www.telegraph.co.uk/finance/economics/5990051/Ba...
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