Shipping Rates for Brazilian Iron Ore to China Fall 2.7% to $34.51/Wet Ton, Lowest Since May 1

According to Mysteel, on June 15, Baltic Sea shipping rates for Brazilian/West African route Handysize vessels carrying iron ore to China fell $0.946 to $34.509 per wet ton, marking the first time below the $35 level since May 1. The decline is attributed to weakening shipment volumes and heightened market expectations for falling crude oil prices amid shifting international geopolitical conditions.
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