The Baltic Exchange's Cape-size Index spiked in June to levels not seen since last September and more than 10 times the index's reading in early December, fueling concerns over the volatility of such indexes and their use in making supply chain decisions. According to various market sources, increased demand and congestion at Chinese ports lately driven by speculation that iron ore prices will drop soon pushed the Capesize index above 8,000 on June 3 before dipping and then leveling at 7,500 in mid-June. The index has been below 2,000 as recently as early April and was in the 800 range in December.
展开▼
