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Capesize rates pull back after rapid 66% rise

Spot rates had risen 66% last week to the highest in a month but have since declined 10% as China looks to investigate iron ore pricing, leading to weaker sentiment

The average weighted time charter is at $14,209 per day on the Baltic Exchange from $15,789 on February 10. The market is still lacking sufficient volumes from Brazil as more activity from West Africa and Australia is reported

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