Shipping markets often the first to see the boom and first to see the bust such is the volaltility of this sector.
My information shows that all the major IO players were active yesterday (05/03/2014) and the WA - China trade route (more commonly known as the C5 on the BDI) was around $USD10.47 per mt.
Compare this to the 21/02/2014 the C5 was around $USD8.43 per mt.
Also, important to note that there is also a WA/Brazil differance and back on 21/02/2014 this differance was $USD10.30 and on 05/03/2014 it is now $USD13.96, simply put IO freight is more expensisive to ship IO from Brazil to China than Aust to China and hence the landeed cost into china is more costly so if you were a buyer where would you purchase from?
AGO Price at posting:
$1.04 Sentiment: Hold Disclosure: Held
