The price to ship iron ore from Australia to China plummeted for the third straight day, dragged down by lower Chinese imports.
The average spot rate for the benchmark C10 transpacific roundtrip voyage has fallen 57% since Monday to $16,817 per day on Thursday, according to the Baltic Exchange.
The Baltic 5TC, a measure of average spot market rates for capesize bulkers, slid $3,134 on Wednesday to $24,003 per day.
