Chinese Steel Drives The Market

摘要

The dry bulk market showed resistance and recovery in February after a period of significant decline. Large vessels showed the strongest improvements and the Capesize Index rose 46% in just three weeks of the month, before ending the month up 43%. Figures for January show that China produced almost 21% more steel than in the same month last year, whereas the rest of the world saw a decrease of 1.1%. More important from a shipping point of view, China's pig iron production was up close to 28%, whereas the rest of the world showed a decrease of 4.2% compared to output levels one year ago.