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

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January 2020 | Steel Scrap and Metallics Forecaster

The downward trend in freight lingers: Freight Highlights

The recent outbreak of the coronavirus in China and the consequent shutdown of sixteen cities in the Wuhan region have had ripple effects on an already dulled freight market.

Freight rates dipped for a seventh consecutive week and SSY’s Pacific index fell to a nine-month low in the week ended Friday January 24. In the capesize market, shipowners still cannot manage to get higher rates for their voyages because of waning demand. The Pacific Capesize Index rates reported by Simpson Spence Young (SSY) dropped by 565 points week on week to 3,982 points, which is the lowest level since April 29, 2019. The SSY Atlantic Capesize...


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