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Container futures rally as US-China trade hopes outweigh Red Sea ceasefire

  • Shanghai freight futures jumped, led by the August contract, on optimism over upcoming China-US trade talks
  • Investors largely ignored Red Sea ceasefire news, seeing limited immediate impact vessel routing
  • Analyst says the rally was sentiment driven, with Asia-Europe trade remaining under pressure from an oversupply of vessels, regardless of changes on transpacific routes

Shanghai container freight futures rallied on optimism over revived China-US trade talks, as traders largely brushed aside Red Sea ceasefire news and persistent overcapacity on Asia-Europe trades

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