Monthly archives: January 2021

DCE slides on slower restocking activities

Iron ore futures opened high before sliding toward the afternoon session, despite a late rally to recover some loss grounds at the close. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then dropped by 1.69% on-day or RMB 18 to RMB 1,046/mt on Monday. The steel rebar contract on the Shanghai …

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Capesize rates hike up on better Atlantic market

Capesize freight rates rose again on better shipping demand with much improvement seen in the Atlantic market. The Capesize 5 time charter average then went up by $3,533 day-on-day to $21,131 on Friday, with both basins in fixing big rates. The Baltic Dry Index (BDI) also hiked up by 10.91% or 158 points to 1,606 …

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Morning Oil Report 11/1/21

Brent crude oil futures were down 65 cents, or 1.2%, at $55.34 a barrel by 0439 GMT, after having climbed to $56.39, their highest since Feb. 25, 2020. Brent rose in the previous four sessions. The European Benchmark fell to $55.06 by 0700GMT. U.S. West Texas Intermediate (WTI) slipped 44 cents, or 0.8%, to $51.80 …

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