The BDI continued its slide from May, when it reached an all time high. From September 12th to the 15th, the BDI fell 5% on news that Chinese demand for iron ore had yet to recover to previous levels.
To lower large stockpile levels and high prices, China temporarily halted iron ore imports. Although the measure was temporary, the reduction in iron prices led to a lessening of traffic and congestion in Chinese ports, further lowering iron ore prices. The Baltic Dry Index (BDI) fell 20%, and has yet to recover.