Subscribe to RSS feedDry bulk recovery depends on cheap ore prices
The dry bulk boom, particularly for capesize bulk carriers, will continue only if the cost, insurance and freight rate for iron ore from Australia to China remains below US$70 per tonne, a leading commodities executive said yesterday.
Prices key to continued iron ore rebound (Photo: BHP Billiton)
APAC Resources chief executive Liu Yongshun said imports would continue to price China’s domestic iron ore out of the market if the overall value remained around US$60-US$70 per tonne.
But if prices went above US$80 per tonne it was likely that...
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