Trade prices with China keep falling
Against a backdrop of highly volatile prices and capacities in deep sea container shipping between China and the Western countries, the Hamburg-based container market place Container X Change has published data on the trends for the period after China's Golden Week and the pre-Christmas season.
Average trading prices in China fall by 22%. The average trading price of feu boxes has been falling in China since week 39 (end of September and just ahead of the Golden week). From USD 8,516 in week 39, the average prices plunged to USD 6,598 in week 42 (18-22 October), at 22.5% the biggest decline witnessed this year in China.
As to the ports, Qingdao recorded the highest 11% plunge from last month, Ningbo 2%, Shanghai 3.4%, Shenzhen 1.7% and Tianjin 0.5%.
In addition, a teu box now costs an average of USD 3,000, which has plateaued since the beginning of September from USD 3017.
From last week, these average prices have dropped at Shanghai port (from USD 3,359 - USD 2,847), Qingdao port (from USD 2,982 - USD 2,794) and at Ningbo port (from USD 4,300 to USD 3,940).
As per the platform data, 46 ports globally experienced a moderate pullback in average container prices. The hotspots include China, Vietnam and USA. All these price falls indicate an improvement in congestion. (sh)