The monthly Yangtze Dry Bulk Index edged up 0.99 per cent in May to 814.51. Due to lower prices of steel, demand for iron ore was suppressed, resulting in a continued downward trend in the commodity’s shipping price. The index for iron ore slid 4.19 per cent to 747.83.

Maintenance work on the Datong-Qinghuangdao railway that carries coal from Shanxi province to the coast of Hebei province has resulted in the temporary closure of services on the line and a reduction in the quantity of coal carried on the Yangtze via the sea. However, the demand for coal remained strong, causing a substantial rise in Yangtze shipping prices. The index for coal increased 9.13 per cent to 814.84.

Demand and supply for building materials such as sand and cement were roughly in balance in May and the index stayed flat at 1230.64. Most non-metal ores were also balanced except for phosphorus ore, which rose on the back of the rising shipping price for coal. Overall, the index for non-metal ores grew by 1.5 per cent to 1001.00.