Iron ore futures dipped at the start of the week, after a sluggish trading session with flat steel prices movement and expectation of more production curbs. The futures of Dalian Commodity Exchange (DCE) for September delivery then went down by 1.49% day-on-day or RMB 18.50 to RMB 1,225/mt during the day trading session on Monday. …
Author archives: Titus Zheng Shujian
Daily Capesize Review 16/7/21
Capesize freight rates continued to inch downward, despite some improvement seen in the physical market. The Capesize 5 time charter average, then fell by $152 day-on-day to $28,542 on Friday, after much selling pressure during the session. The Baltic Dry Index (BDI) then dropped by 1.11% day-on-day, down 34 points to 3,039 readings, due to …
Ferrous trade weekly review 16/7/21
A total of 1.16 million mt of iron ores was traded for the week ended Jul 16, after steel output cut was relaxed from early July, which led to more steel consumption and demand. However, many trade participants saw the relaxation as temporary and expected further production cuts in H2 2021 in effort to cut …
Daily DCE Review 16/7/21
Iron ore futures rose on Friday trading session, as steel consumption increased, and market participants anticipated more stimulus measures during H2 2021. The futures of Dalian Commodity Exchange (DCE) for September delivery then went up by 1.89% day-on-day or RMB 23 to RMB 1,241/mt during the day trading session on Friday. The rebar futures also …
Daily Capesize Review 15/7/21
Capesize freight rates continued to spiral downward, despite a move up supported by the improving physical market. The Capesize 5 time charter average, then fell by $434 day-on-day to $28,694 on Thursday, after a choppy trading session. The Baltic Dry Index (BDI) then dropped by 2.10% day-on-day, down 66 points to 3,073 readings, due to …
Daily DCE Review 15/7/21
Iron ore futures hiked up on Thursday trading session, finding supports from high steel prices, though market concerns over the upcoming production cuts. The futures of Dalian Commodity Exchange (DCE) for September delivery then went up by 1.61% day-on-day or RMB 19.50 to RMB 1,234/mt during the day trading session on Thursday. The rebar futures …
Daily Capesize Review 14/7/21
Capesize freight rates continued to come under selling pressure, despite some improvement seen in the physical market. The Capesize 5 time charter average, then fell further by $1,144 day-on-day to $29,128 on Wednesday, after an erratic paper trading session. The Baltic Dry Index (BDI) also dropped by 2.76% day-on-day, down 89 points to 3,139 readings, …
Daily DCE Review 14/7/21
Iron ore futures moved flattish on Wednesday, after a slump at previous night market and closed for a slight gain at the afternoon trading session. The futures of Dalian Commodity Exchange (DCE) for September delivery then inched up by 0.79% day-on-day or RMB 9.50 to RMB 1,219.50/mt during the day trading session on Wednesday. The …
Daily Capesize Review 13/7/21
Capesize freight rates slumped into losses after some panic selling in the paper market, as freight rates declined in the physical market. The Capesize 5 time charter average, then plunged down by $994 day-on-day to $30,272 on Tuesday, after selling pressure in the paper market. The Baltic Dry Index (BDI) also dropped by 2.18% day-on-day, …
Daily DCE Review 13/7/21
Iron ore futures closed higher due to better steel prices and the persisted low monthly iron ore imports arrival to China. The futures of Dalian Commodity Exchange (DCE) for September delivery then soared by 3.29% day-on-day or RMB 39 to RMB 1,225/mt during the day trading session on Tuesday. The rebar futures however, dipped slightly …