The Baltic Dry Index (BDI) dropped to a 7-week low of 2,985 points on July 13, down 30 percent from 4,291 points on June 3. As the iron ore price talk deadlock goes on between the Chinese side and Australian suppliers, China began to slow iron ore imports from mid-June. Just 9.3 million tons of iron ore were exported from Port Hedland of Australia to China in June, down 11.5 percent from 10.6 million tons in May. China’s imports of iron ore from Brazil also declined 16 percent. India’s 63.5 percent grade fines was offered at 660 to 670 yuan per ton delivered at Tianjin port on July 13 while Australia’s 62 percent grade Newman fines was quoted at 720 to 730 yuan per ton on the same basis, compared with the average 610 yuan per ton and 620 to 630 yuan per ton respectively during the week ending June 19. Analysts say the BDI will rise again after the price talk is over in the latter half.