Iron ore futures started the week on soft note, due to corrections in steel prices that dampened market sentiments. The futures of Dalian Commodity Exchange (DCE) for September delivery then plunged down by 8.79% day-on-day or down RMB 108 to RMB 1,121/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange also went …
Author archives: Titus Zheng Shujian
Daily Capesize Review 18/6/21
Capesize freight rates plunged to a sharp drop after a cooling off from the physical market after a handful of trades. The Capesize 5 time charter average, then slumped down by $1,515 day-on-day to $33,415 on Friday, after sharp drops seen in both basins. The Baltic Dry Index (BDI) then dropped by 1.50% on-day, down …
Ferrous trade weekly review 18/6/21
A total of 1.106 million mt of iron ores was traded for the week ended Jun 18, amid extended output curb in Tangshan and improving steel margins. According to Platts, the Chinese domestic hot-rolled coil and rebar sales profit margins averaged to decent range of $155/mt and $149/mt over June 1-15, respectively, though lower than …
Daily DCE Review 18/6/21
Iron ore futures closed the day session in slight dip, after seeing rally in morning session over market concerns over supply tightness in port inventory. The futures of Dalian Commodity Exchange (DCE) for September delivery then dipped slightly by 0.17% on-day or down RMB 2 to RMB 1,203/mt on Friday. The steel rebar contract on …
Daily Capesize Review 17/6/21
Capesize freight rates maintained upward momentum despite the physical market taking a break in the bullrun. The Capesize 5 time charter average, then rose by $1,672 day-on-day to $34,930 on Thursday, as market fundamentals improved in both basins. The Baltic Dry Index (BDI) then rallied by 2.87% on-day, up 91 points to 3,267 readings on …
Daily DCE Review 17/6/21
Iron ore futures rebounded from previous trading losses, lifted by market sentiment of rising daily steel production in early June. The futures of Dalian Commodity Exchange (DCE) for September delivery then hiked up by 1.03% on-day or RMB 12.50 to RMB 1,223.50/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange, also went …
Daily Capesize Review 16/6/21
Capesize freight rates continued its bullish run, due to better market outlook with improving physical demand. The Capesize 5 time charter average, then rose by $2,618 day-on-day to $33,258 on Wednesday, after much premiums on the FFA market that might translated to the physical market. The Baltic Dry Index (BDI) then followed the rally and …
Daily DCE Review 16/6/21
Iron ore futures reversed into losses due to the easing of the supply tightness, while the market entered lull steel demand season. The futures of Dalian Commodity Exchange (DCE) for September delivery then dipped down by 1.52% on-day or RMB 18.50 to RMB 1,197.50/mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange, …
Daily Capesize Review 15/6/21
Capesize freight rates rallied on more shipping activities as trade participants returned from holidays amid improving demand. The Capesize 5 time charter average, then rose by $1,257 day-on-day to $30,640 on Tuesday, following market optimism on iron ore shipping demand. The Baltic Dry Index (BDI) then went up to a one-month high at 3,025 readings, …
Daily DCE Review 15/6/21
Iron ore futures closed the afternoon session with slight gains against previous losses in the morning session, due to market concerns over slack steel consumption season. The futures of Dalian Commodity Exchange (DCE) for September delivery then inched up slightly by 0.91% on-day or RMB 11 to RMB 1,225/mt on Tuesday. The steel rebar contract …