Monthly archives: December 2020

DCE starts the week on slower pace

Iron ore futures closed lower at the start of the week, after a high opening but only to slid at the afternoon trading session later. The most-traded iron on China’s Dalian Commodity Exchange (DCE) then dropped by 3.21% day-on-day or RMB 32 to 966/mt on Monday, dipping after record-high rally last week. The steel rebar …

Continue reading “DCE starts the week on slower pace”

Capesize rates recover despite mixed market sentiments

Capesize freight rates hiked up on better market sentiments as shipping demand improved toward year-end with support of the strong bunker prices. The Capesize 5 time charter average then went up by $938 day-on-day to $11,889 on Friday, albeit with considerably less activity on the FFAs. The Baltic Dry Index (BDI) also moved upward by …

Continue reading “Capesize rates recover despite mixed market sentiments”

Morning Oil Report 14/12/20

Brent crude futures for February rose 38 cents, or 0.8%, to $50.35 a barrel by 0454 GMT before ticking up by over 50 cents to $50.61 to 0741, while U.S. West Texas Intermediate crude futures for January were up 32 cents, or 0.7%, at $46.89 a barrel.   Iran and its ministers are looking to …

Continue reading “Morning Oil Report 14/12/20”