Official stats show that exports from China to the USA fell by a third in August, Chinese and American negotiators had their fourth round of talks last weekend in Madrid, time will tell if a fair deal can be made that will satisfy both countries.

Since the beginning of August we have seen FBX01 (China/East Asia – USA West Coast) go from a high of $2,369 at the start of August to a low of $1,728 at the end of August and hover in the low $2,000’s throughout September ending up today at $2,295. FBX03 (China/East Asia – USA East Coast) has followed a similar pattern over the same period, start of August the rate was $3,705, today it stands at $3,630, with a low of $2,703 at the end of August. FBX11 (China/East Asia – North Europe) has declined steadily starting August at $3,457 and today has reached $2137, a drop of $1,320 in 7 weeks. FBX13 (China/East Asia – Mediterranean) started August at $3,206 and has seen a similar decline of $855 to $2,351 today. It’s interesting to see that the key routes of FBX01 and FBX03 have managed to avoid a decline in rates, perhaps this is in preparation for USTR port fees coming in next month.