Dry Bulk Weekly – July 24, 2010
Baltic dry index rose 6.2% last week; Capesize Index gained 1.9%; Panamax Index rose 12.9%; Supramax and Handysizes Indexes gained 4.6% and 3.6% respectively.
Commodore Research July 21, 2010:
One of the most troubling signs in the Chinese economy at the moment is therecent (and relatively long-lasting) decline in steel prices. Steel prices have fallen consistently since theend of April, even while stockpiles and production levels have remained firm. In recent weeks, though,steel output has decreased moderately but has remained at historically robust levels. Last week’s declinein steel prices was one of the smallest week-on-week declines since April, however, and steel prices maybe on the verge of finding support.
Chart 1. Baltic Dry Indexes Relative Performance
Source: Bloomberg
Chart 2. Baltic Dry Index
Source: Bloomberg
Chart 3. Baltic Dry Index Components
Source: Bloomberg