Capesize freight rates continued to march onward with gains as typhoon related weathers caused disruption in shipping schedules. The Capesize 5 time charter average, then rose by $784 day-on-day to $53,692 on Tuesday, as market slowed down after a huge daily spike in previous session. The Baltic Dry Index (BDI) then rose by $58, up …
Author archives: Titus Zheng Shujian
Daily DCE Review 14/9/21
Iron ore futures dipped in the choppy session, following the recent downward momentum on bearish market outlook. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 1.46% day-on-day or down RMB 10.50 to RMB 711/mt, during the day trading session on Tuesday. The rebar future plunged sharply at the afternoon session …
Daily Capesize Review 13/9/21
Capesize freight rates rallied further with record gains, amid Chinese port closures due to the Typhoon Chanthu. The Capesize 5 time charter average, then rose by $6,736 day-on-day to $52,908 on Monday, as significant gains were made in the Pacific and Atlantic markets. The Baltic Dry Index (BDI) then rose by $299, up 7.74% day-on-day, …
Daily DCE Review 13/9/21
Iron ore futures opened high at the opening, but only to slump into a downward trajectory on bearish market outlook. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 3.49% day-on-day or down RMB 25.50 to RMB 706/mt, during the day trading session on Monday. The rebar future moved flatly and …
Daily Capesize Review 10/9/21
Capesize freight rates rebounded from previous losses, with better offers that supported the market fundamentals for the bullish market. The Capesize 5 time charter average, then dropped by $5,021 day-on-day to $46,172 on Friday, as market confidence improved over shipping demand amid tight tonnage. The Baltic Dry Index (BDI) then rose by $221, up 6.07% …
Ferrous trade weekly review 10/9/21
A total of 840,000 mt of iron ores was traded for the week ended Sep 10, amid a series of price correction due to low steel demand. Iron ore prices continued its corrections phrase, despite being at the traditional peak construction season. However, iron ore demand failed to gain tractions due to the extending steel …
Daily DCE Review 10/9/21
Iron ore futures opened high at the starting session, but the upward momentum then reversed into losses at the close. The futures of Dalian Commodity Exchange (DCE) for January delivery then inched down by 0.27% day-on-day or down RMB 2 to RMB 732.50/mt, during the morning trading session on Friday. The rebar future however, rose …
Daily DCE Review 9/9/21
Iron ore futures dipped into losses on Thursday, despite opening high at the start of the afternoon session. The futures of Dalian Commodity Exchange (DCE) then fell by 2.73% day-on-day or RMB 20.50 to RMB 730/mt, during the day trading session on Thursday. The rebar futures, however, rose by 4.47% day-on-day or RMB 243 to …
Daily Capesize Review 8/9/21
Capesize freight rates dropped further on lower bookings, despite Brazilian miners making more fixtures but failed to support higher rates. The Capesize 5 time charter average, then dropped by $1,702 day-on-day to $40,518 on Wednesday, after a choppy market. The Baltic Dry Index (BDI) also fell by $89, down 2.40% day-on-day, to $3,618, due to …
Daily DCE Review 8/9/21
Iron ore futures managed to eke out a gain by the end of Wednesday day session, after a choppy market under selling pressure. The futures of Dalian Commodity Exchange (DCE) then inched up by 0.07% day-on-day or RMB 0.50 to RMB 747/mt, after a late rally to rebound from losses, during the day trading session …