Rate for benchmark capesize bulker route for Brazilian iron ore falls 19% in a week

The average spot rate for the benchmark iron ore route between Brazil and China fell over the past week as China’s industrial sector remained still.

The rate for the C14 roundtrip voyage plummeted 19.4% over the seven-day stretch to hit $10,705 per day on Friday.

The Baltic Exchange’s Capesize 5TC basket of spot-rate averages across five key routes slipped 2.9%