Capesize freight rates fell in prolonged correction period with bearish market outlooks, amid moderate shipping demand. The Capesize 5 time charter average, then plunged down by $5,764 day-on-day to $64,417 on Friday, following another string of corrections. The Baltic Dry Index (BDI) extended losses and dropped by $208, down 4.11% day-on-day, to $4,854, due to …
Author archives: Titus Zheng Shujian
Ferrous trade weekly review 15/10/21
A total of 2.79 million of iron ores was traded for the week ended Oct 15, a significant rise from previous week due to effect of the weeklong holidays in China. Apparently, restocking activities picked up as Chinese participants returned from holidays, while some trade participants were attracted by reasonable low pricing after much price …
Daily DCE Review 15/10/21
Iron ore futures failed to rally, despite low steel stocks and lesser iron ore supply from Rio Tinto as the miners reduced its annual guidance for 2021. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell slightly by 0.96% day-on-day or down RMB 7 to RMB 723.50/mt, during the day trading session …
Daily Capesize Review 14/10/21
Capesize freight rates extended losses with market selloff over prolonged period, amid bearish market sentiments. The Capesize 5 time charter average, then fell by $4,359 day-on-day to $70,181 on Thursday, following market selloff for sixth consecutive trading day. The Baltic Dry Index (BDI) continued to slip by $144, down 2.77% day-on-day, to $5,062, due to …
Daily DCE Review 14/10/21
Iron ore futures continued to decline amid bearish market sentiments on power rationing that limited steel output and raw materials demand. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 2.90% day-on-day or down RMB 22 to RMB 736/mt, during the day trading session on Thursday. The rebar futures also dipped …
Daily Capesize Review 13/10/21
Capesize freight rates continued to decline on bearish market sentiments upon market uncertainty over demand. The Capesize 5 time charter average, then slid by $4,995 day-on-day to $74,540 on Wednesday, following an extended selloff session. The Baltic Dry Index (BDI) also dropped by $172, down 3.20% day-on-day, to $5,206, due to weakening freight rates. …
Daily DCE Review 13/10/21
Iron ore futures continued to slide on downward direction, as trade participants expected further steel output cuts for winter season. The futures of Dalian Commodity Exchange (DCE) for January delivery then dipped by 5.92% day-on-day or down RMB 46 to RMB 731/mt, during the day trading session on Wednesday. The rebar futures also went down …
Daily Capesize Review 12/10/21
Capesize freight rates fell further on steep selloff market actions, amid thin tonnage volumes and good market fundamentals. The Capesize 5 time charter average, then slipped down by $3,187 day-on-day to $79,535 on Tuesday, as paper market extended losses. The Baltic Dry Index (BDI) also dropped by $110, down 2% day-on-day, to $5,378, due to …
Daily DCE Review 12/10/21
Iron ore futures inched down after a choppy session as trade participants became more cautious over slowing steel production. The futures of Dalian Commodity Exchange (DCE) for January delivery then dipped slightly by 0.19% day-on-day or down RMB 1.50 to RMB 769.50/mt, during the day trading session on Tuesday. The rebar futures also went down …
Daily Capesize Review 11/10/21
Capesize freight rates continued to fall amid market uncertainty and profit-taking in the paper market. The Capesize 5 time charter average, then went down by $1,143 day-on-day to $82,722 on Monday, despite good market fundamentals. The Baltic Dry Index (BDI) also dropped by $38, down 0.69% day-on-day, to $5,488, due to weakening freight rates. …