Iron ore futures rose for second consecutive trading day of the week, due to better restocking demand among steel mills. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 2.44% day-on-day or up RMB 14.50 to RMB 609.50/mt, during the day trading session on Tuesday. The rebar futures also followed the …
Author archives: Titus Zheng Shujian
Daily Capesize Review 26/11/21
Capesize freight rates continued to rise, despite market scares of the new covid variant spread and expectation of adverse weather that affected shipping activities. The Capesize 5 time charter average, then rose by $1,076 day-on-day to $32,393 on Friday, amid a choppy market. The Baltic Dry Index (BDI) then rose by $89, up 3.32% day-on-day, …
Daily DCE Review 29/11/21
Iron ore futures rallied at the start of the week, due to market optimism on mills’ ramping up steel production in December. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 4.77% day-on-day or up RMB 28 to RMB 614.50/mt, during the day trading session on Monday. The rebar futures, however …
Daily DCE Review 26/11/21
Iron ore futures fell after a series of bullish run, as market sentiment turned bearish due to output restriction measures aimed to improve air quality. The futures of Dalian Commodity Exchange (DCE) for January delivery then plunged by 6.65% day-on-day or down RMB 41 to RMB 575.50/mt, during the day trading session on Friday. The …
Daily DCE Review 25/11/21
Iron ore futures extended bullish run over higher steel output and prices that drove improvement in steel margins. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 1.83% day-on-day or up RMB 11 to RMB 611.50/mt, during the day trading session on Thursday. The rebar futures also increased by 0.86% day-on-day …
Daily Capesize Review 23/11/21
Capesize freight rates continued to rally on better shipping demand and higher commodity prices, though some trade participants deemed the rally as short-lived due to coming holidays. The Capesize 5 time charter average, then grew by $1,421 day-on-day to $33,631 on Tuesday, as the paper market turned bullish after a positive start at the week. …
Daily DCE Review 24/11/21
Iron ore futures rose for the third consecutive day on market optimism over higher steel output after the lifting of production restrictions. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 5.84% day-on-day or up RMB 34 to RMB 616.50/mt, during the day trading session on Wednesday. The rebar futures also …
Daily DCE Review 23/11/21
Iron ore futures increased on easing of steel output curbs, and higher steel prices that improved mills’ margins. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 7.81% day-on-day or up RMB 42.50 to RMB 587/mt, during the day trading session on Tuesday. The rebar futures however, inched down by 0.09% …
Daily DCE Review 22/11/21
Iron ore futures jumped on better industrial steel consumption and loosening of bank credits for the embattled Chinese property sector. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 6.18% day-on-day or up RMB 32.50 to RMB 558/mt, during the day trading session on Monday. The rebar futures also inched up …
Ferrous trade weekly review 19/11/21
A total of 730,000 mt of iron ores was traded for the week ended Nov 19, as trades slowed down during the off-peak winter season. The near break even or negative margins were blamed for the low intake of iron ores, as some mills chose to reduce output voluntarily or go for maintenance period during …