I've been keep an eye on the shipping cost, this normally a good indicator about shipping volumes for next 2 weeks or so:
From Brazil Tubarao to Qingdao yesterday: US$11.636/wmt
At it's peak last year, shipping cost was over US$24/wmt
Previously:
- 19/3/2019 US$11.782/wmt
- 19/2/2019 US$12.911/wmt
- 18/1/2019 US$17.886/wmt
The trend is still down... which means Vale's shipping volumes are not picking up too much, if any at all.
DYOR
Frank
Iron ore price, page-11281
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