Fresh stimulus could boost Chinese iron ore imports, down 3.3% YTD
Preliminary shipping data from Oceanbolt shows a 1.7% y/y drop in Chinese iron ore import volumes in August. The volumes are, however, the highest since January and follow a 3.1% y/y increase in July. Year-to-date, Chinese iron ore imports are down 3.3% y/y, making up around 20% of global dry bulk volumes, but could be in for a bounce, benefitting the struggling Capesize segments.
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Posted:
01 September 2022
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