Welcome back to "Freight Up," your go-to podcast for insights into the major freight and bulk commodity markets from FIS. I'm your host, Jess. We'll start with our regular guest Ben Klang providing the latest updates on the dry freight markets across all vessel segments. Ben will discuss recent trends, index movements, and key drivers shaping the freight landscape. Next, we have a special segment focusing on the US steel industry with Martin Vera, a senior commodities broker, and Catherine Wang, a steel desk broker, joining us from our US offices. They'll share insights on US HRC futures, the unique aspects of the US steel market, current volatility, and future outlooks. We'll also touch on the impact of Mexican steel imports and the state of US domestic raw steel production. Rounding out the episode, Hao Pei is back to give us the latest on ferrous products, including a closer look at recent developments in the iron ore and coking coal markets. Listen in for an informative discussion on freight, steel, and ferrous commodities, as we navigate the complexities and opportunities in these dynamic markets. You won't want to miss it! 00:00 Jess with the freight market update. 04:22 Rates hit high, trading mostly range-bound. 10:33 US steel industry: 80 million tons yearly, electric arc furnaces dominant. 12:15 Implied volatility on front end contracts at 25%. 16:36 Difficulty in steel production led to price spikes. 19:09 US steel producers foresee price rebound in 2024. 22:21 Iron ore correction, train impact, China equities.