According to Clarkson Plc, the Baltic Dry Index may have peaked for this year. The gauge rose to 4,291 points on June 3rd 2009 in a run of 23 straight gains as China imported iron ore.

The index collapsed a record 92 per cent last year as demand for steel from carmakers and builders tumbled and the world economy slumped.

Mr Martin Stopford MD of Clarkson Research Studies said that "This is the best we are going to get this year."

The index has fallen 18% since June 3rd 2009. Global steel output fell by 24% in April.

(Sourced from www.bloomberg.net)