The futures market for capesizes has fallen for November and December as China finds itself well-stocked on iron ore.
The November freight-forward agreement (FFA) rates for the asset class slid $497 per day on Monday to $17,678 per day, while those for December lost $419 per day to end up at $16,059 per day, according to Baltic Exchange assessments.
"Iron-ore and steel prices softened today with reports of Chinese iron-ore port stocks reaching an eight-month high," Clarksons Platou Securities said in its daily report on capesizes.
