In the second week of June, The Baltic dry index soared to the highest level in ten years. An 11% increase for iron
ore was one of June’s major gains. This followed a 7% increase in May.
Coal continued to make progress with a 4% rise in June and 6% rise compared to June last year. June’s imports of steam coal to China reached 16 million tonnes. The highest for some years. We discussed China’s coal crisis in a recent blog article.
Agriculture volumes are still 7% higher than last year, but have fallen by 6% in June this year as the Soybean season eases off. Maise is still going strong in June at 15 million tonnes. This time last year, volumes were just 13.4 million tonnes. Wheat is now beginning to climb as we approach the Northern Hemisphere harvest.
Although forestry fell back in June to 31 million tonnes, it’s still a lot stronger than last year’s 28 million tonnes. Wood pulp and woodchip are relatively strong.