Dry bulk rates for shipping industrial minerals slumped this week after China failed to start iron ore buying after the traditional late summer lull.
The Baltic Dry Index (BDI) was down over 10% at 1859 on 2 November versus 2145 on 26 October. Capesize, Panamax, Supramax, and Handysize were at 2906, 1889, 1486, and 754, respectively.
The BDI's sharp drop was due to fears that China may not import much iron ore in...