Spot prices out of China increase for the first time in seven months

Having otherwise seen relentless drops since early summer, spot rates on freight out of Shanghai increased in the last week of the year.

by MARKETWIRE

After 28 consecutive downward spiraling weeks, the Shanghai Containerized Freight Index (SCFI), measuring spot prices on box freight from Shanghai to a number of global destinations, notes its first week of progress.

This week, the rate index increased by a marginal 0.46 percent to 1,107.55, effectively putting a halt to a series of relentless drops since June 10.

This week’s development places the SCFI 78.1 percent lower than the same time last year, and the score tally of 1,107.55 is still close to the record-low level from August 2020.

English edit: Simon Øst Vejbæk

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