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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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May 2019 | Steel Scrap and Metallics Forecaster


Capesize freight rates find further support in May on higher Pacific chartering activity: Freight Highlights


Increased activity in the Australian iron ore export market was the main catalyst for support to Pacific capesize freight rates during the month of May.

Freight rates on capesize ships extended their upward rally to eight weeks. The Pacific capesize index published by Simpson Spence Young (SSY) rose 22.9% month on month to 4,508 points on May 27, while the Atlantic index gained 15.3% over the month to 6,539 points. That put the Pacific within 45.1% of the Atlantic index, the narrowest gulf since early December, showing Pacific markets have been able to reverse the...

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