MID-SHIP Alumina/Bauxite – Feb 3, 2025

February 3, 2025

Market Overview: 

It’s hard to believe we have already completed the first month of the new year.

The new month and week start with a bit more optimism in the forward curves. Today’s forward assessment points to significant improvements off of the current low spot rates for Q’s 2/3/4 of 2025 across all segments.

During the ongoing tariff negotiations initiated by the Trump Administration with Mexico, Canada, China, and the Panama Canal Administration, certain tariffs have already been implemented, causing disruptions in spot business negotiations. Specifically, the tariffs with Mexico were initiated but subsequently postponed by one month to allow for continued discussions. Additionally, Panama has granted free canal transit to U.S. Naval vessels following a visit from the new Secretary of State, Marco Rubio.

Look for more positional volatility in the coming days as the vessel operators queue up a rally post-lunar holiday and recover from recent hard times.

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