Rates for shipping dry bulk industrial minerals rose this week, continuing a five-session upward trend which started in early August. The market was up on re-energised Chinese steel demand and raw material buying, but gains were expected to be limited by shipping oversupply.
The Baltic Dry Index (BDI) was 1371 on 17 August compared with 1265 on 10 August. Capesize, Panamax, Supramax, and Handysize were at 2015, 1585, 1296, and 644, respectively.
Rates were pulled up on rising Chinese steel prices, indicating that demand was also growing and that the world's...