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Commodities

Baltic Dry Index surges on growing Chinese freight demand

Iron ore imports to the second-largest economy tip the scale

The increase in cargo headed for China is fueling a rise in the Baltic Dry Index.

TOKYO -- Sea freight prices are on the rise for small, medium and large bulk carriers, with the Baltic Dry Index lifting to a high last seen in November 2014 on Tuesday, thanks to robust Chinese demand for iron ore.

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