A total of 1.35 million mt of iron ores was traded for the week ended Jul 2, amid reduced steel production for centenary political party celebration in Jul 1. Thus, many trade participants saw the production cut as temporary and will soon resume after the celebration to support higher steel output in early July. During …
Author archives: Titus Zheng Shujian
Daily DCE Review 2/7/21
Iron ore futures closed the week on slight gains, amid bearish market sentiments of low steel demand and high port inventory. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose slightly by 0.77% day-on-day or up RMB 9 to RMB 1,182.50/mt at the close of day trading session on Friday. The rebar …
Daily Capesize Review 1/7/21
Capesize freight rates suffered a sharp fall, after a selloff in the session following weakness in the physical market. The Capesize 5 time charter average, then plunged down by $2,004 day-on-day to $30,600 on Thursday, after a series of selling pressure in the market. The Baltic Dry Index (BDI) also fell by 1.33% day-on-day, down …
Daily DCE Review 1/7/21
Iron ore futures rebounded on Thursday, due to supply tightness and expected reduced steel output for the second half of the year. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose by 1.08% day-on-day or up RMB 12.50 to RMB 1,166/mt at the close of day trading session on Thursday. The rebar …
Daily Capesize Review 30/6/21
Capesize freight rates reversed into losses in the volatile market, as the physical market lost steam toward the month-end. The Capesize 5 time charter average, then dropped by $1,695 day-on-day to $32,604 on Wednesday, after a choppy market to a start of the new month. The Baltic Dry Index (BDI) also dipped down by 1.02% …
Daily DCE Review 30/6/21
Iron ore futures fell for the second consecutive trading day, as steel demand slowed for the upcoming political party celebration and poor economic indicators. The futures of Dalian Commodity Exchange (DCE) for September delivery then dropped down by 0.72% day-on-day or RMB 8.50 to RMB 1,165/mt at the close of day trading session on Wednesday. …
Daily Capesize Review 29/6/21
Capesize freight rates continued to rise on better market sentiment for the physical market, after a sluggish start of the week. The Capesize 5 time charter average, then rose up by $951 day-on-day to $34,299 on Tuesday, due to better physical market. The Baltic Dry Index (BDI) also hiked up by 2.83% day-on-day, up 94 …
Daily DCE Review 29/6/21
Iron ore futures suffered a sharp fall in the morning session, before recovering some positions during the afternoon session. The futures of Dalian Commodity Exchange (DCE) for September delivery then dived down by 2.66% day-on-day or RMB 31.50 to RMB 1,196/mt at the close of day trading session on Tuesday. The rebar futures also dipped …
Daily Capesize Review 28/6/21
Capesize freight rates inched up after a slow start of the week, despite improvement seen in both basins. The Capesize 5 time charter average, then rose up by $279 day-on-day to $33,348 on Monday, despite limited fixtures done in the physical market. The Baltic Dry Index (BDI) also hiked up by 2.12% day-on-day, up 69 …
Daily DCE Review 28/6/21
Iron ore futures started the week on gains, as market participants held their concerns over supply tightness and low port inventory. The futures of Dalian Commodity Exchange (DCE) for September delivery then went up by 2.09% day-on-day or RMB 24.50 to RMB 1,196/mt during the day trading session on Monday. The rebar futures also rose …