BALTIC DRY INDEX STAGNANT

BDIY Baltic Dry Index is stagnant at 747 on February 18th, at the level of one year before, indicating that ocean freights are depressed.

BDIY starts 2013 at a value of 698 beeing the peak level attained in January 21st at 838. Since that date the  quotation tendency reverse going down to actual reported level of 747.

This is a clear indication that steel price increases will not be sustainable in the market as The Steel Blog forcasted.