This week, the total inventory of construction steel continued to decline. Specifically, the total rebar inventory decreased by 1.82% WoW, while the total wire rod inventory increased by 0.68% WoW. On the supply side, the operating rates of both BF and EAF steel mills declined this week. Currently, due to reduced profitability, some steel mills in Shaanxi have halted production for maintenance, leading to a decrease in pig iron production. The production situation of EAF steel mills varied. One electric furnace plant in east China resumed production, while in the southwest region, due to electricity subsidies, market profitability improved, prompting some electric furnace plants to extend their operating hours.

The US White House issued a statement saying that President Trump had signed an order to raise tariffs on imported steel, aluminum, and their derivative products from 25% to 50%, effective from 00:01 a.m. on the 4th, Eastern Time. The statement indicated that tariffs on steel and aluminum imported from the UK would remain at 25%.

[Baltic Dry Index Hits One-Week High] The Baltic Dry Index rose to a more than one-week high, driven by higher rates for Capesize vessels. The Baltic Dry Index increased by 38 points, or 3%, to 1,305 points, the highest since May 8. The Capesize Index rose by 123 points, or 7.46%, to 1,771 points. The daily average earnings for Capesize vessels increased by $1,021 to $14,691. The Panamax Index fell by 8 points, or 0.6%, to 1,287 points, the lowest since April 17. The daily average earnings for Panamax vessels decreased by $69 to $11,585. The Supramax Index fell by 2 points to 975 points.

[Baltic Dry Index Ends Four-Day Losing Streak] The Baltic Dry Index (BDI) rose on Monday, ending a four-day losing streak, driven by gains in the Capesize and Supramax vessel markets. The BDI increased by 5 points, or 0.38%, to close at 1,304 points, the highest since May 8. The Capesize Index rose by 22 points, or 1.29%, to 1,731 points. The daily average earnings for Capesize vessels increased by $185 to $14,354. The Panamax Index fell by 11 points, or 0.81%, to 1,342 points, the lowest since April 23. The daily average earnings for Panamax vessels decreased by $98 to $12,075. The Supramax Index rose by 1 point to 970 points. The Handysize Index remained unchanged at 554 points.

【BDI Continues to Fall】 The Baltic Dry Index (used to measure freight rates for ships carrying dry bulk commodities) fell on Wednesday, as the decline in Capesize rates overshadowed gains in Panamax and Supramax rates. The main index tracking Capesize, Panamax, and Supramax rates fell 32 points to 1,374. The Baltic Capesize Index dropped 102 points to 1,935. The average daily earnings for Capesize vessels decreased by $847 to $16,050. Meanwhile, the Baltic Panamax Index rose 2 points to 1,362. Panamax vessels, which typically carry 60,000-70,000 mt of coal or grain, saw their average daily earnings increase by $19 to $12,257. Among smaller vessels, the Supramax Index rose 4 points to 961.

The 2025 Q1 (108th overall) meeting of the People's Bank of China Monetary Policy Committee convened on March 18. The meeting analyzed the domestic and overseas economic and financial situation, noting that the current external environment has become more complex and severe, with weak global economic momentum. The economic performance of major economies has diverged, and the uncertainty regarding inflation trends and monetary policy adjustments has increased.

The Baltic Dry Index rose to a two-week high on Thursday as the Baltic Capesize Index rose.

The Baltic Dry Index fell on Tuesday as the Baltic Capesize Index hit a nearly six-month low, offsetting the impact of a rise in the Baltic Panamax Index.

The Baltic Dry Index rose to its highest level since late June on Tuesday as Capesize rates halted a five-day losing streak and Panamax rates extended gains.

The Baltic Dry Index fell on Tuesday, ending its three consecutive gains before.