Capesize freight rates got off to a slow start at the week, as most participants were in collecting mood, but nevertheless the market fundamentals remained good with firm rates. The Capesize 5 time charter average, then rose by $977 day-on-day to $50,708 on Monday, as the index went above the psychological $50k mark. The Baltic …
Author archives: Titus Zheng Shujian
Daily DCE Review 21/8/21
Iron ore futures moved flatly on Monday day session, and dipped at session close, following previous week of trading losses. The futures of Dalian Commodity Exchange (DCE) for September delivery then dropped by 1.05% day-on-day or down RMB 8 to RMB 757/mt, during the day trading session on Monday. The rebar futures, however rose by …
Daily Capesize Review 20/8/21
Capesize freight rates maintained bullish momentum with strong showings in both basins, amid tightening tonnage supply. The Capesize 5 time charter average, then rose by $2,370 day-on-day to $49,731 on Friday, extending the bullish run. The Baltic Dry Index (BDI) also continued its record-breaking upward movement reaching high levels of $4,092, up 2.92% day-on-day, due …
Ferrous trade weekly review 20/8/21
A total of 950,000 mt of iron ores was traded for the week ended Aug 20, up 25% week-on-week, after a week of price corrections. Iron ore prices continued their correction phrase this week, to the extent of sharp drop to $130.20/mt under Platts assessment of the 62% Fe Iron Ore Index. During the week, …
Daily DCE Review 20/8/21
Iron ore futures inched up for slight gain at day session close, despite experiencing a good rebound at the morning session after a week of trading losses. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose slightly by 0.26% day-on-day or up RMB 2 to RMB 777.50/mt, during the day trading session …
Daily Capesize Review 19/8/21
Capesize freight rates rose on bullish market momentum with a strong Atlantic basin pushing for further gains. The Capesize 5 time charter average, then rose by $2,866 day-on-day to $47,361 on Thursday, extending the bullish run. The Baltic Dry Index (BDI) also hiked up further at record-high levels of $3,976, up 3.73% day-on-day, from the …
Daily DCE Review 19/8/21
Iron ore futures slumped further on lower steel demand, amid heavy buildup of iron ore stocks across the value chain. The futures of Dalian Commodity Exchange (DCE) for September delivery then plunged by 7.18% day-on-day or down RMB 59 to RMB 762.50/mt, during the day trading session on Thursday. The rebar futures, also dropped by …
Daily Capesize Review 18/8/21
Capesize freight rates extended its record-high bullish run, with market optimism on better demand and tight tonnage. The Capesize 5 time charter average, then rose by $3,446 day-on-day to $44,495 on Wednesday, due to better market sentiment. The Baltic Dry Index (BDI) also hiked up further at record-high levels of $3,833, up 4.81% day-on-day, due …
Daily DCE Review 18/8/21
Iron ore futures fell further over subdued steel demand and low restocking activities among mills. The futures of Dalian Commodity Exchange (DCE) for September delivery then fell by 3.73% day-on-day or down RMB 31.50 to RMB 813/mt, during the day trading session on Wednesday. The rebar futures, also dropped by 3.71% day-on-day or RMB 198 …
Daily Capesize Review 17/8/21
Capesize freight rates strengthened further, after a flurry of fixtures done at higher rates from better shipping demand. The Capesize 5 time charter average, then rose by $812 day-on-day to $41,049 on Tuesday, due to improving freight rates. The Baltic Dry Index (BDI) surged up further at record levels of almost 11 years high at …