The bdi index is the epitome of the global economy. During the period of global economic overheating, the demand of commodity market increased, and the bdi index also rose accordingly.
Bdi index is relatively objective. There is no problem of short-term fund speculation in bdi index. If short-term capital enters the commodity market for speculation, but the bdi index does not rise in the same period, the high price of the commodity market is worthy of vigilance.
Bdi index is positively correlated with commodity market price. In other words, if the prices of coal, nonferrous metals and iron ore rise, the bdi index will generally rise.
The bdi index is positively correlated with the dollar index. The strength of the dollar generally reflects the improvement of the American economy. Because the American economy accounts for a relatively large proportion in the global economy, the bdi index is positively related to it.
The bdi index is positively correlated with the trend of the US stock market. The reason is the same as the dollar index.
Bdi (Baltic Dry Index) is actually a shipping index, which is weighted by the spot freight rates of several major routes. It can be regarded as a freight index of bulk raw materials and a reference index reflecting the international trade situation. It can be simply understood as the freight index of bulk raw materials. Because bulk shipping mainly transports steel, pulp, coal, phosphate rock and other raw materials related to industry and people's livelihood, bdi is closely related to the global economy. Bdi and CRB, the leading indexes of global commodity futures prices, have always been the two most important indicators of the prosperity of commodity markets. In the context of the global economic downturn, bdi has been given more significance-because the government and the central bank can't influence the trend of the bdi index with monetary or fiscal policies, it shows the real state of the global economy, so it is also called the weather vane of the global economy and has attracted more and more investors' attention.
The Baltic Exchange decomposes the BFI index originally reflecting Panamanian ships and Cape of Good Hope ships into BCI index and BPI index, and bdi based on BCI index, BPI index and BHI index replaces BFI. Bdi index is a barometer of the trend of international dry bulk transportation market. It is an authoritative index to measure the international shipping situation in the world and a leading index to reflect the international trade situation. The index of bdi is calculated by adding BPI, BCI and BHI, taking the average value, and then multiplying by a fixed conversion coefficient of 0.99007990.
Ocean transportation is generally divided into three forms: container transportation, dry bulk transportation and tanker transportation. Among them, container transportation is mainly used for the transportation of downstream manufactured goods, such as automobiles, electronic products and textiles. , the unit is TEU (standard box); Dry bulk transportation is mainly suitable for the transportation of upstream primary products such as iron ore, coal, grain and cement, with the unit of tons; Tanker transportation is mainly suitable for crude oil, liquefied natural gas, etc.
Because dry bulk shipping mainly reflects the global demand for primary products and is the leading indicator of economy, it has the characteristics of high gross profit and large price fluctuation. Container shipping, on the other hand, is mainly related to the products in the middle and lower reaches, which can't reflect the macro demand well, let alone serve as a leading indicator, and its freight rate fluctuation is much smoother.
Composition of bdi index
1, BCI index, BalticCapesizeIndex, tonnage: more than 80,000 tons, mainly transported goods: coking coal, coal, iron ore, phosphate rock, bauxite and other industrial raw materials, accounting for1/3 of bdi;
2.BPI index (BalticPanamaxIndex), Baltic Panama index, tonnage: 50,000-80,000 tons, mainly transported goods: people's livelihood materials, grain and other bulk materials, accounting for1/3 of bdi;
3.BHMI index (BalticHandymaxIndex), Baltic Portable Index, tonnage: less than 50,000 tons, main transported goods: phosphate fertilizer, potassium carbonate, sawdust and cement, accounting for 1/3 of bdi.