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Europe container freight index futures fall over 8% intraday on two days in China
In short
The main contract of the container shipping index (Europe line) futures fell over 8% intraday on 20 October, reaching 2553.5 points, according to CLS. On 21 October it again fell over 8% intraday, to 2433 points, CLS reported.
Why it matters
The documents are market-flash items and give no cause for the declines. They show two consecutive sessions of large intraday falls in this futures contract, but no basis for wider consequences.
Key facts
- On 20 October the main contract of the container shipping index (Europe line) futures was down 4% intraday at 2661.00 points at 13:37, CLS reported. [ 1 ]
- By 14:49 on 20 October CLS reported the contract down over 8% intraday at 2553.5 points. [ 7 ]
- On 21 October CLS reported the Europe line down over 5% at the morning open, in a list of domestic futures main contracts where more fell than rose. [ 8 ]
- At 14:31 on 21 October CLS reported the main contract down over 8% intraday at 2433 points. [ 11 ]
- On 21 October, SC crude oil was also down over 3% in the morning, CLS reported. [ 8 ]
Confirmed by several sources
- On 20 October the Europe line container index futures main contract fell over 4% intraday early in the afternoon. [ 1 , 2 ]
- On 20 October the contract's intraday fall exceeded 7%. [ 5 , 6 ]
- On 21 October the Europe line fell over 5% in morning trading. [ 8 , 9 ]
- On 21 October the main contract's intraday fall exceeded 8%. [ 11 , 12 ]
Still unclear
- The reason for the declines. None of the documents gives a cause.
- How the contract closed on 20 and 21 October. The documents report only intraday moves, not closing levels.
What local media are saying
Timeline, local time
- On 20 October the main contract was down 4% intraday at 2661.00 points (CLS). [ 1 ]
- On 20 October the fall reached 5%, at 2637 points (CLS). [ 3 ]
- On 20 October the fall widened to 6% (CLS). [ 4 ]
- On 20 October the fall exceeded 7%, at 2581 points (CLS). [ 5 ]
- On 20 October the fall exceeded 8%, at 2553.5 points (CLS). [ 7 ]
- On 21 October the Europe line was down over 5% in a list of futures main contracts (CLS). [ 8 ]
- On 21 October Yicai reported the Europe line down over 6% at the midday session. [ 10 ]
- On 21 October the main contract was down over 8% intraday at 2433 points (CLS). [ 11 ]