Tainted Alpha

Baltic dry index rose 0.3% last week; Capesize Index was up 9.5%; Panamax Index fell 11.3%; Supramax Index fell 1.9%; Handysize Index was down 2.9%. So, capesize gains offset other component losses.

Data flow is tainted by holiday season in China (Mid Autumn Festival –  from September 22 to September 24  and National Day – from October 1 to October 7). The real strength of the market will be unknown until holidays end.

Steel and iron stockpiles unchanged.

Chart 1. Baltic Dry Indexes Relative Performance

Chart 2. Baltic Dry Index

Chart 3. Baltic Dry Index Components

Chart 4. China Iron Ore Price Fines CFR Main China Port

Chart 5. China Domestic Hot Rolled Steel Sheet Spot Average Price

Chart 6. Iron Ore Inventory At Chinese Ports

Chart 7. China Total Steel Inventory

Baltic Dry Index, China, Dry Bulk, Iron Ore, Shipping, Steel

This entry was posted on Monday, October 4th, 2010 at 6:20 am and is filed under China, Commodities, Dry Bulk Weekly, Shipping. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.