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Food buying ups dry bulk

26 August 2010


Shipping costs firm on grain buying and China’s return to the iron ore, coal market

Dry bulk shipping rates, used to estimate the cost for moving many industrial minerals, rose again this week with activity in the grain market fuelling shipping activity, while healthy Chinese industrial data suggested that steel mills may begin buying raw materials again.The dry bulk market has been influenced by strong food shipping activity this week, after the Russian government said it would stop exporting grain until next year after drought and fires lowered its expected...