BDI volatile but positive signs point to commodity upturn

The Baltic Dry Index (BDI) saw a run of 17 straight gains in February and a 15% rise on February 4, the biggest one-day increase in almost 25 years.

The BDI is seen as a barometer for commodity prices, and the 119% increase over the past three months may point towards a turning point in the markets.

However, the index fell by more than 70% in the past 12 months and therefore any growth is relative, as George Cambanis, global head of shipping at Deloitte, points out.

"There is a long way to go befor