China Dry Cargo Signals: October 2026

The Affinity China Dry Index reached 119.7, indicating a stronger performance compared to previous years, supported by a 2 per cent month-on-month gain amid rising exports and imports while steel production faced declines. Despite a 6 per cent increase in iron ore imports, the overall steel market remains under pressure, with only 7 per cent of steelmakers profitable as hot-metal output dwindles to a six-month low. Coal imports also decreased by 7 per cent month-on-month and 24 per cent year-on-year, reflecting supply issues compounded by stringent safety measures, while a commitment to import US coal enhances trans-Pacific trade prospects.