Baltic Dry Index weakened, but brokers expect its further growth

07.09.2017

Last week Baltic Dry Index lost 16 points, or 1.35%, and reached 1184 points. After a long weekend in the UK, during the week the index showed mostly negative dynamics, reports UkrAgroConsult.

The reduction of Capesize index was triggered by the decrease in demand for building materials in China, due to the local economy slowdown. Consequently, China is likely to reduce imports of raw materials. The bearish trend was also observed in the Panamax market, mainly due to fast contracts for September.

On the contrary, Supramax index hold the bullish trend due to the increase in grain supplies. Brokers expect that the weakness of BDI is temporary and hope that this year Baltic Dry Index will be able to break the record of 1338 points, which was set in March.

 

UkrAgroConsult

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