Project Description


Iron ore volumes increased in September to nearly the same levels of the June high at 143 million tonnes. Interestingly, Capesize rates were below their monthly average high in June ($20,174), to $18,315 in September. Maybe other factors like are at play like congestion or the impoverished coal demand. Overall, iron ore is running at 10% above Q3 last year, demonstrating the comeback of the Chinese construction industry.

Coal on the other hand, continues to be the laggard at 11% down compared to Q3 last year. India Steam Coal is now back to pre-COVID-19 level of imports at 17 million tonnes, last seen in January this year. However, China’s demand for August and September is much lower spoiling the party.

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