Capesize freight rates dipped on the slow physical market, while the market remained at steep contango with some expectation that it would turn positive again. The Capesize 5 time charter average, then dropped by $639 day-on-day to $17,821 on Thursday, despite some improvement in the Pacific market. The Baltic Dry Index (BDI) then fell by …
Author archives: Titus Zheng Shujian
Daily DCE Review 28/04/22
Iron ore futures extended bullish run and closed the session on gains, after stabilization of Covid cases in major cities like Shanghai and Beijing suggested some easing of pandemic restrictions. The futures of Dalian Commodity Exchange (DCE) for May delivery rose by 3.53% day-on-day or up RMB 29 to RMB 851.50/mt, during the day trading …
Daily Capesize Review 27/4/22
Capesize freight rates rose on better shipping activities, as trade participants tried to fix vessels before the upcoming holidays in early May. The Capesize 5 time charter average, then rose by $469 day-on-day to $18,460 on Wednesday, as the Pacific market showed further signs of improvement. The Baltic Dry Index (BDI) also hiked by $21 …
Daily DCE Review 27/04/22
Iron ore futures settled for gains after a choppy day session, amid lockdown worries in China and poor steel margins. The futures of Dalian Commodity Exchange (DCE) for May delivery rose by 2.61% day-on-day or up RMB 21 to RMB 826.50/mt, during the day trading session on Wednesday. The rebar futures also inched up by …
Daily Capesize Review 23/3/22
Capesize freight rates extended losses on lacklustre shipping activities with market concerns over poor weather and worsening covid situation in China. The Capesize 5 time charter average, then dropped by $629 day-on-day to $17,412 on Wednesday, after another session of market selloff. The Baltic Dry Index (BDI) however, improved by $29 day-on-day, or up 1.14% …
Daily DCE Review 24/03/22
Iron ore futures continued to climb, despite logistical disruption in China from worsening Covid spread with travel restrictions implemented over 20 Chinese provinces. The futures of Dalian Commodity Exchange (DCE) for May delivery rose by 1.30% day-on-day or up RMB 10.50 to RMB 818/mt, during the day trading session on Thursday. The rebar futures also …
Daily DCE Review 23/03/22
Iron ore futures inched up on the day session, despite market concerns over stringent covid lockdown measures that hurt steel demand. The futures of Dalian Commodity Exchange (DCE) for May delivery rose by 0.43% day-on-day or up RMB 3.50 to RMB 822.50/mt, during the day trading session on Wednesday. The rebar futures also increased by …
Daily Capesize Review 22/3/22
Capesize freight rates fell further on the weak physical market outlook, as poor weather and stringent covid check in Chinese ports slowed shipping activities. The Capesize 5 time charter average, then dropped by $2,440 day-on-day to $18,041 on Tuesday, after market selloff sessions. The Baltic Dry Index (BDI) also decreased by $43 day-on-day, or down …
Ferrous Trade Weekly Review 18/03/22
A total of 540,000 mt of iron ores was traded for the week ended Mar 18, after a long pause of minimal trades due to Chinese market regulator crackdown on false price information. There was also more steel production following the removal of output curbs after the Two Sessions meeting and Paralympic events During the …
Daily DCE Review 18/03/22
Iron ore futures ended the week on gains, despite market concerns over the strict lockdown measures and impact on steel demand. The futures of Dalian Commodity Exchange (DCE) for May delivery rose by 3.54% day-on-day or up RMB 28.50 to RMB 833.50/mt, during the day trading session on Friday. The rebar futures also increased by …