dharry, would think the movements in the BDI might be a prelude to a move in commodity prices. Falling shipping rates means lower volumes, and lower volumes if they persist mean lower commodity prices. The fact that a lot of coal and iron ore sits on annual contracts creates a delay mechanism. Copper is probably a better indicator i would have thought. Will be interesting to see over the next year or so
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dharry, would think the movements in the BDI might be a prelude...
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