China Dry Cargo Signals: July 2026

The Affinity China Dry Index reached 105.1 in July 2026, indicating a 5 per cent improvement since January 2022, although it declined by 2 per cent from the previous month. Strains in Chinese iron ore and coal imports persist, with iron ore imports up 1 per cent month-on-month but down 2 per cent year-on-year, while coal imports fell 5 per cent month-on-month. Strong domestic steel production continues to offset some demand concerns, yet economic recovery remains under threat from fluctuating consumer confidence and ongoing Covid-19 complications. Additionally, growing tension surrounding coal exports from Indonesia could disrupt import flows, underscoring the ongoing risks and uncertainty in global dry bulk demand.