Trading in China ended on Thursday last week as markets in China closed from 29
Sep to 8 Oct for national holidays. Prices of the CoFIF came down between 12%
and 20% WoW, benchmarking the physical market where spot rates for FE-NEUR are
plummeting as players are entering into the bidding season for the 2024
contracts. SCFI was just below $600/TEU at market close last week but actual
going spot rates could be already much lower.
Average daily trading volume last week rebounded by 1.5 times back