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-0.00142789148024756 -0.000951927653498314 -0.000475963826749241 -0.000475963826749241 -0.000475963826749241 -0.000475963826749241 -0.0157068062827226 -0.0109471680152309
Stock impact report

China iron ore demand powers Baltic sea freight index to record weekly gain [Reuters]

VALE S.A. American Depositary Shares Each Representing one common share (VALE) 
Last vale s.a. american depositary shares each representing one common share earnings: 4/29 04:02 pm Check Earnings Report
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Company Research Source: Reuters
China iron ore demand powers Baltic sea freight index to record weekly gain June 19 (Reuters) - The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry commodities around the world, posted its biggest weekly gain ever, underpinned by a rebound in global commodities trading as iron ore demand from China picked up. The 35-year old index, which reflects rates for capesize, panamax and supramax ships, has now surged nearly 300% since tumbling to a low of 393 points in May following a freeze in global trade due to coronavirus-led lockdowns. “Most of the strength is due to increased Chinese steel mill demand for iron ore coupled with the increased production and exports out of Brazil,” said Randy Giveans, vice-president, equity research, at Jefferies. “The length of the rally will all depend on how aggressive China is in restocking their depleted inventories as well as the ongoing recovery and stimulus activity in Asia.” The index rose 28 points, or 1.8%, on Show less Read more
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