Capesize rates are ‘woeful’ on main ore lane to China

IN A slide called “woeful” by one broker and “gritty” by another, the capesize market plummeted last week on the main iron ore trading lane from Tubarao to Qingdao, which hit US$16.50 per tonne by Friday, down 24% in a week.

“It’s gritty at the moment,” a Hong Kong broker said.
Another described cargo on this key route as “thin”, with a handful of spot fixtures reported on the Baltic Exchange.
Meanwhile, rates for iron ore trades between Western Australia and...

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