The BDI index, which represents the continued transportation of dry bulk cargoes, has continued to decline. This has caused many ship owners to frown. However, the price of iron ore, which used to move along with the BDI index, is still rising this time. Industry sources pointed out that it is not possible to rule out the supply of three major iron ore giants in order to raise the possibility of pricing in the first quarter.
On December 22, the BDI index fell to its lowest level in nearly five months to 1830. The index has fallen for 12 consecutive trading days since December 7, with a cumulative decline of more than 15%.
The BDI index is an important measure of shipping costs for iron ore, cement, grain, coal, and chemical fertilizers. A high-level member of the China Shipping Group told the China Business News that, in general, as long as the BDI index is at 3,000 points. Above, most shipping companies can make profits. Larger shipping companies hope to make profits after the index exceeds 2,000 points.
The BDI index has fallen every day, and the shipping companies that have just “lived†from the financial crisis have once again been dragged to the brink of losses. Qian Hongwei, an analyst at CITIC Construction and Shipping, pointed out to the “First Financial Daily†that this time the BDI index fell, related to the dry bulk shipping capacity relative to the demand surplus. “On the one hand, the delivery capacity of the second half of the year is relatively large; on the other hand, The transportation demand, especially the iron ore transportation demand is not very prosperous."
According to Qian Hongwei’s speculation, because the global transportation capacity may still be surplus next year and the economic recovery is not strong, the days of shipping companies may not be very good next year.
In dry bulk shipping, iron ore traffic accounts for a large proportion, but this year's total iron ore imports may be lower than last year. Gao Bo, deputy general manager of the “My Steel†net charge business, pointed out earlier that in the first 10 months of this year, China’s iron ore imports were 503 million tons, down 8% year-on-year, and it is expected to import about 600 million tons in the year. It is slightly lower than last year, which will be the first year-on-year decline in iron ore annual import volume in 10 years.
However, although the decline in iron ore demand and transportation volume has dragged down the freight index, it has not been able to depress the price of iron ore still operating at high levels. The spot cif price of iron ore has been rising slightly recently, and the iron ore index is almost Every day, it rises by about US$1. The spot price of Indian iron ore, which is currently 63.5% grade, has reached US$177/dry ton, and some offers are even as high as US$180/ton, which is a new high in nearly eight months.
“The recent spot price of iron ore is rising again. Apart from the factors such as the reduction of exports from India and the winter storage of steel mills, it is not ruled out that the three major mining companies are interested in controlling shipments in order to raise the possibility of pricing in the first quarter.†A steel analyst The teacher pointed out to the "First Financial Daily" that, in addition, some large traders may also use their influence and manipulative power to stir up prices to benefit from it.
According to the calculation of the spot trading platform Nishijin Shinkansen, from January to November this year, China's cumulative import of iron ore decreased by more than 6 million tons year-on-year, while the import amount was $25.7 billion higher than the same period of last year, indicating that the domestic steel industry this year due to iron ore The increase in cost of rising prices is even higher than its total profit for the whole year.
On December 22, the BDI index fell to its lowest level in nearly five months to 1830. The index has fallen for 12 consecutive trading days since December 7, with a cumulative decline of more than 15%.
The BDI index is an important measure of shipping costs for iron ore, cement, grain, coal, and chemical fertilizers. A high-level member of the China Shipping Group told the China Business News that, in general, as long as the BDI index is at 3,000 points. Above, most shipping companies can make profits. Larger shipping companies hope to make profits after the index exceeds 2,000 points.
The BDI index has fallen every day, and the shipping companies that have just “lived†from the financial crisis have once again been dragged to the brink of losses. Qian Hongwei, an analyst at CITIC Construction and Shipping, pointed out to the “First Financial Daily†that this time the BDI index fell, related to the dry bulk shipping capacity relative to the demand surplus. “On the one hand, the delivery capacity of the second half of the year is relatively large; on the other hand, The transportation demand, especially the iron ore transportation demand is not very prosperous."
According to Qian Hongwei’s speculation, because the global transportation capacity may still be surplus next year and the economic recovery is not strong, the days of shipping companies may not be very good next year.
In dry bulk shipping, iron ore traffic accounts for a large proportion, but this year's total iron ore imports may be lower than last year. Gao Bo, deputy general manager of the “My Steel†net charge business, pointed out earlier that in the first 10 months of this year, China’s iron ore imports were 503 million tons, down 8% year-on-year, and it is expected to import about 600 million tons in the year. It is slightly lower than last year, which will be the first year-on-year decline in iron ore annual import volume in 10 years.
However, although the decline in iron ore demand and transportation volume has dragged down the freight index, it has not been able to depress the price of iron ore still operating at high levels. The spot cif price of iron ore has been rising slightly recently, and the iron ore index is almost Every day, it rises by about US$1. The spot price of Indian iron ore, which is currently 63.5% grade, has reached US$177/dry ton, and some offers are even as high as US$180/ton, which is a new high in nearly eight months.
“The recent spot price of iron ore is rising again. Apart from the factors such as the reduction of exports from India and the winter storage of steel mills, it is not ruled out that the three major mining companies are interested in controlling shipments in order to raise the possibility of pricing in the first quarter.†A steel analyst The teacher pointed out to the "First Financial Daily" that, in addition, some large traders may also use their influence and manipulative power to stir up prices to benefit from it.
According to the calculation of the spot trading platform Nishijin Shinkansen, from January to November this year, China's cumulative import of iron ore decreased by more than 6 million tons year-on-year, while the import amount was $25.7 billion higher than the same period of last year, indicating that the domestic steel industry this year due to iron ore The increase in cost of rising prices is even higher than its total profit for the whole year.
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