A majority of supply chain professionals (42%) believe shipping container prices will increase in August, indicating potential market improvement, according to a recent study.

A report published by Container xChange found that 28% of professionals foresee a decline in container prices while another 30% think prices will remain unchanged in August. Container xChange is an online container marketplace that allows carriers, leasing companies and logistics companies to tap surplus capacity on containers, vessels, trains and trucks.

Container prices have been more stable over the past 30 days, ranging from down 4% to up 5.20%, an improvement compared to the 90-day period from May to July, which saw a noticeable dip in pricing, with Southeast Asia reporting a 15.73% decline.

A potential industry rebound could take place in the U.S. this month because the National Retail Federation’s Global Ports Tracker estimated that import cargo volumes could reach their 2023 peak during August. Meanwhile, the S&P’s Global Flash U.S. Manufacturing Purchasing Managers’ Index (PMI), a measure of economic activity in the U.S. manufacturing sector, grew from 46.3 in June to 49.0 in July, a sign that the market is improving.

“As economists shift from predicting recession to a 'soft landing,' the industry holds its momentum. While some experts remain cautious, the foundation of a resilient economy, sustained consumer activity and strategic federal investments improve the outlook of the upcoming holiday season," said Christian Roeloffs, the co-founder and CEO of Container xChange. “It’s a shipper’s market this peak season as rates stabilize at below pre-COVID levels and capacity is abundant. Prices are low, and this offers a great opportunity for exporters this peak season.”

Container xChange interviewed 2,570 supply chain professionals during July 2023 for the report.