BDI surges to new high
23 Jul 2019 14:42 reported by Claude Tseng
BDI (Baltic Dry Index) increased sharply to 2,170 points last Friday (July 19th), which hit the highest level in the past five and a half years.
The BDI could measure the changes in raw materials' transportation costs, such as iron ore, cement, grain, coal, and chemical fertilizers.
Stimulated by the strong BDI, the shipping cost also increased. According to the steel industry, the rapid hike in the BDI did not mean the global economy was good.
After the Brumadinho dam disaster, the iron ore supply was tight from Brazilian Vale mine. Therefore, it might be advantages for the shipping company and could be the reason for the BDI rise.
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