BDI is dropping like hell, and it is apparent that the bulk shipping industry has just received a great amount of cancel of existing orders and within at minimum a half a year the trend will not go up. The expectation on the China and India markets is also bad.
Thus, if we correct the view that the rebound will happen, then we can come up with another thinking: i.e. deflation can come before inflation. And the rebound on raw materials may not happen at all.
I will further update you about my thoughts. But for the moment, please remember: Cash is King.