Iron ore futures rallied on increased steel production and restocking activities, amid market concerns over power crunch in China. The futures of Dalian Commodity Exchange (DCE) for January delivery then went up by 6.48% day-on-day or up RMB 48.50 to RMB 797.50/mt, during the day trading session on Monday. The rebar futures also inched up …
Author archives: Titus Zheng Shujian
Daily Capesize Review 8/10/21
Capesize freight rates fell from a selloff in the paper market, despite more shipping activities as Chinese trade participants returned from holidays. The Capesize 5 time charter average, then went down by $3,088 day-on-day to $83,865 on Friday, despite some late rebound at the market close. The Baltic Dry Index (BDI) also dropped by $124, …
Daily DCE Review 8/10/21
Iron ore futures rallied as Chinese trade participants returned from holidays, despite market uncertainty on steel output curbs and power crunch in China. The futures of Dalian Commodity Exchange (DCE) for January delivery then went up by 4.88% day-on-day or up RMB 35.50 to RMB 762.50/mt, during the day trading session on Friday. The rebar …
Daily Capesize Review 7/10/21
Capesize freight rates gained slightly, despite the absence of Chinese participants for long holidays celebration. The Capesize 5 time charter average, then inched up by $83 day-on-day to $86,953 on Thursday, as tight tonnage supplies continued to support freight rates. The Baltic Dry Index (BDI) also inched up by $3, up 0.05% day-on-day, to $5,650, …
Daily Capesize Review 1/10/21
Daily Capesize Review 1/10/21 Capesize freight rates rebounded on tight tonnage supply, amid market uncertainty over power crunch in China and its impact on raw materials. The Capesize 5 time charter average, then rose by $1,014 day-on-day to $75,190 on Friday, due to market optimism on better fronthaul fixtures. The Baltic Dry Index (BDI) also …
Ferrous trade weekly review 1/10/21
A total of 590,000 mt of iron ores was traded for the week ended Oct 1, down 2.67% on-week, due to short week as Chinese trade participants celebrated their week-long holidays. Restocking activities slowed down as the holidays approached in early October, while the power crunch and ongoing steel output cuts affected iron ore demand. …
Daily DCE Review 1/10/21
The futures of Dalian Commodity Exchange (DCE) closed for the week-long Golden week holidays, though market participants held mixed view over the iron ore demand. Part of the market bearish sentiment was linked to poor economic data from China, as the country’s manufacturing PMI ratings fell to contractionary levels. In meantime, the China’s recent power …
Daily Capesize Review 30/9/21
Capesize freight rates slumped to end its bullish run, as market concerns turned to mine closures and China’s public holidays. The Capesize 5 time charter average, then dropped by $610 day-on-day to $74,176 on Thursday, after some selloff in the market. The Baltic Dry Index (BDI) then dipped by $30, down 0.58% day-on-day, to $5,167, …
Daily DCE Review 30/9/21
Iron ore futures opened high at the morning session, before experiencing more easing at the afternoon session but managed to book gains at the close, ahead of the Golden Week holidays. The futures of Dalian Commodity Exchange (DCE) for January delivery then jumped by 5.41% day-on-day or up RMB 37 to RMB 721.50/mt, during the …
Daily Capesize Review 29/9/21
Capesize freight rates extended its rally to record-high levels, with supports from tight tonnage supply and better shipping demand. The Capesize 5 time charter average, then jumped by $5,773 day-on-day to $74,786 on Wednesday, despite some profit taking in the session. The Baltic Dry Index (BDI) then rose by $235, up 4.74% day-on-day, to $5,197, …