August 17,
Profits in shipping market may return after 18-months of decline as improving demand can be seen for Steel and Iron from China.
According to Deutsche Bank AG, Chinese steel prices rose 4.7% last week, the most in 11 months. Costs for leasing capesize ships which carries Iron ore are expected to average $30,375 a day in the fourth quarter.
Though last month’s Chinese steel output was the smallest since February, the nation still accounted for 45% of global supply.
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