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Bulk carriers are seasonally perfect

The fundamentals of supply and demand suggest that this year, not last year, will represent the peak of this cycle.

The People’s Bank of China lowered its loan prime rate in January in a move thought to support investors in real estate development companies rather than the struggling real estate companies themselves. Iron ore suppliers benefited from a subsequent rise in physical and futures prices while steel prices were rangebound, held up by sentiment but held down by seasonal weakness leading up to Lunar New Year. Capacity utilisation at Chinese steel mills is flat at around 81%.

The Winter Olympics...

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