Capesize freight rates rebounded again in the volatile market, due to better market optimism over the Q3 period. The Capesize 5 time charter average, then hiked up by $1,051 day-on-day to $33,069 on Monday, with some improvement seen in the physical market. The Baltic Dry Index (BDI) then spotted a gain of 2.52% day-on-day, up …
Author archives: Titus Zheng Shujian
Ferrous trade weekly review 25/6/21
A total of 0.87 million mt of iron ores was traded for the week ended Jun 25, amid the typical lull steel demand period. However, there was some upticks in steel prices late in the week, as it was heard that some mills had voluntarily reduced their sintering and blast furnace operations ahead of the …
Daily DCE Review 25/6/21
Iron ore futures closed the week on gains, despite market concerns about growing steel stockpiles and easing of supply tightness for iron ore. The futures of Dalian Commodity Exchange (DCE) for September delivery then went up by 1.24% day-on-day or up RMB 14.50 to RMB 1,185/mt on Friday. The steel rebar contract on the Shanghai …
Daily Capesize Review 24/6/21
Capesize freight rates dipped from recent rebound, despite strong buying interests that translated to decent gains on the Q3. The Capesize 5 time charter average, then went down slightly by $61 day-on-day to $32,018 on Thursday, despite better improvement in the physical market. The Baltic Dry Index (BDI) then spotted slight gain of 0.90% day-on-day, …
Daily DCE Review 24/6/21
Iron ore futures inched up slightly, due to market concerns over slower steel demand with rising steel stockpiles and easing of supply tightness in iron ore stocks. The futures of Dalian Commodity Exchange (DCE) for September delivery then inched up slightly by 0.87% day-on-day or up RMB 10 to RMB 1,164.50/mt on Thursday. The steel …
Daily Capesize Review 23/6/21
Capesize freight rates rebounded in the volatile market, as shipping demand improved with better market confidence. The Capesize 5 time charter average, then went up slightly by $703 day-on-day to $32,079 on Wednesday, with small gains seen in both basins. The Baltic Dry Index (BDI) then spotted slight gain of 0.90% day-on-day, up 28 points …
Daily DCE Review 23/6/21
Iron ore futures rebounded for previous losses, supported by supply tightness and market talks of relaxation of output curb in Tangshan by July. The futures of Dalian Commodity Exchange (DCE) for September delivery then jumped up by 3.99% day-on-day or up RMB 45 to RMB 1,173/mt on Wednesday. The steel rebar contract on the Shanghai …
Daily Capesize Review 22/6/21
Capesize freight rates extended losses after a string of selloff, amid weakening physical market. The Capesize 5 time charter average, then plunged down by $1,409 day-on-day to $31,376 on Tuesday, following another selloff in the paper market. The Baltic Dry Index (BDI) then dropped down by 2.23% day-on-day, down 71 points to 3,119 readings, due …
Daily DCE Review 22/6/21
Iron ore futures declined for the second consecutive trading day, due to weakening steel prices and margin amid seasonal lull steel demand. The futures of Dalian Commodity Exchange (DCE) for September delivery then fell by 2.69% day-on-day or down RMB 31.50 to RMB 1,139/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange …
Daily Capesize Review 21/6/21
Capesize freight rates continued to soften at the start of the week, following the previous slump over bearish market sentiments. The Capesize 5 time charter average, then dropped down by $630 day-on-day to $32,785 on Monday, after a selloff in the paper market. The Baltic Dry Index (BDI) then slipped down by 0.87% on-day, down …