Iron ore futures extended gains on market optimism over steel demand with better money supply to fund construction activities. The futures of Dalian Commodity Exchange (DCE) for January delivery then increased by 2.46% day-on-day or up RMB 15.50 to RMB 646/mt, during the day trading session on Wednesday. The rebar futures, however, went down by …
Author archives: Titus Zheng Shujian
Daily Capesize Review 8/12/21
Capesize freight rates hiked up, driven by better market optimism and strong Pacific shipping demand. The Capesize 5 time charter average, then increased by $2,354 day-on-day to $41,324 on Tuesday, due to bullish market sentiment in the paper market. The Baltic Dry Index (BDI) also rose by $117, up 3.62% day-on-day, to $3,352, due to …
Daily DCE Review 7/12/21
Iron ore futures rallied on looser monetary policy, higher iron ore import figures and expectation of better economic policy plans for the next year. The futures of Dalian Commodity Exchange (DCE) for January delivery then jumped up by 8.07% day-on-day or up RMB 48 to RMB 643/mt, during the day trading session on Tuesday. The …
Daily DCE Review 6/12/21
Iron ore futures inched down at the start of the week, due to bearish market sentiment over slowing demand and new covid variant threats that affected market confidence. The futures of Dalian Commodity Exchange (DCE) for January delivery then dropped slightly by 0.42% day-on-day or down RMB 2.50 to RMB 591.50/mt, during the day trading …
Ferrous Trade Weekly Review 3/12/21
A total of 730,000 mt of iron ores was traded for the week ended Dec 3, amid thin market activity, though market participants expected more steel production in December. This was due to the relaxation of production curbs in Tangshan, though the policy may reverse soon to improve the air quality ahead of the Winter …
Daily DCE Review 3/12/21
Iron ore futures plunged further on higher port inventory, despite some improvement in daily consumption of imported iron ores. The futures of Dalian Commodity Exchange (DCE) for January delivery then dropped by 3.08% day-on-day or down RMB 19 to RMB 597/mt, during the day trading session on Friday. The rebar futures however, hiked up by …
Daily Capesize Review 2/12/21
Capesize freight rates rebounded from slump, due to improvement in Pacific shipping demand despite a slow start to the month. The Capesize 5 time charter average, then inched up by $581 day-on-day to $37,604 on Thursday, despite weak sentiment in the paper market. The Baltic Dry Index (BDI) also rose by $68, up 2.23% day-on-day, …
Daily DCE Review 02/12/21
Iron ore futures dipped after three consecutive days of gains, despite a rally in morning session as market participants were concerned over slower steel demand. The futures of Dalian Commodity Exchange (DCE) for January delivery then dropped by 3.45% day-on-day or down RMB 21.50 to RMB 601/mt, during the day trading session on Thursday. The …
Daily Capesize Review 1/12/21
Capesize freight rates slipped at the start of the month, indicating a slow start to the holiday season as more tonnage returned to the market. The Capesize 5 time charter average, then dipped down by $158 day-on-day to $37,023 on Wednesday, amid a choppy market. The Baltic Dry Index (BDI) however, rose by $29, up …
Daily DCE Review 1/12/21
Iron ore futures rose for the third consecutive trading day, despite poor economic data indicating slowdown of manufacturing activities in China. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 1.63% day-on-day or up RMB 10 to RMB 624/mt, during the day trading session on Wednesday. The rebar futures also followed …