Economic Collapse On A Global Scale Is Being Predicted By The Baltic Dry Index

(Before It's News)

Baltic Dry index hits record low as China demand wanes
Plunges to 471 points

The Baltic Dry index, which measure the global cost of shipping commodities, reached an all-time low, plunging to 471 points by mid-morning.

A persisting glut of ships coupled with speculation about weakening Chinese steel output has been blamed for the drop, as these are likely to translate into declining imports of iron ore.

The index has dropped by 2.7% on 17 December, following a 4.7% fall the previous day, and is currently trading at 471 points.

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