Iron ore futures continued its bullish run after finding supports in possible easing of output cut in Tangshan and positive economic data from China. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose by 7.29% on-day or up RMB 79.50 to RMB 1,169.50/mt on Tuesday. The steel rebar contract on the Shanghai …
Author archives: Titus Zheng Shujian
Daily DCE Review 31/5/21
Iron ore futures opened high at the start of the week, rebounding from price corrections last week, after the announcement of more commodity price controls. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose by 5.28% on-day or up RMB 55.50 to RMB 1,106/mt on Monday. The steel rebar contract on the …
Daily Capesize Review 28/5/21
Capesize freight rates plunged as the physical market came under pressure and resulted a selloff in the paper market. The Capesize 5 time charter average then fell by $2,320 day-on-day to $25,614 on Friday, following the selloff. The Baltic Dry Index (BDI) also dropped down by 3.42% or 92 points on-day to 2,596 readings, due …
Ferrous trade weekly review 28/5/21
A total of 0.6 million mt of iron ores was traded for the week ended May 28, as the market toned down after Chinese authority’s pledge of commodity price control into their latest five-year plan. Therefore, the steel prices soon traversed downward, which affected steel margins as trade participants became more cautious in trading. During …
Daily DCE Review 28/5/21
Iron ore futures ended the week on high note after recovering from the slump earlier on the week. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose by 4.11% on-day or up RMB 42 to RMB 1,063/mt on Friday. The steel rebar contract on the Shanghai Futures Exchange also went up by …
Daily Capesize Review 27/0/5/21
Capesize freight rates continued to drop fast due to poor shipping fundamentals despite healthy demand in the Pacific market. The Capesize 5 time charter average then dropped by $1,686 day-on-day to $27,934 on Thursday, despite some market talks of blockade lifting in Bolivar that resulted in some late upticks in trading. The Baltic Dry Index …
Daily DCE Review 27/5/21
Iron ore futures recovered from the morning session slump to record gains in the afternoon session, amid lower steel prices and margins. The futures of Dalian Commodity Exchange (DCE) for September delivery then inched up by 1.11% on-day or up RMB 11.50 to RMB 1,046.50/mt on Wednesday. The steel rebar contract on the Shanghai Futures …
Daily Capesize Review 26/0/5/21
Capesize freight rates reversed into downtrend, due to thin market activities following the short working week paused by holidays in Asia and Europe. The Capesize 5 time charter average then dropped by $1,434 day-on-day to $29,620 on Wednesday, after a selloff in the market. The Baltic Dry Index (BDI) also dipped down by 1.96% or …
Daily DCE Review 25/5/21
Iron ore futures dipped at the close, after a volatile session with day peak recorded earlier in the morning session before plunging at the afternoon session. The futures of Dalian Commodity Exchange (DCE) for September delivery then dropped slightly by 0.05% on-day or up RMB 0.50 to RMB 1,058/mt on Tuesday. The steel rebar contract …
Daily Capesize Review 24/0/5/21
Capesize freight rates spotted slight gains on the improving physical market, especially from better shipping demand in the Pacific market. The Capesize 5 time charter average then inched up by $232 day-on-day to $32,825 on Monday, as the paper market maintained its bullish run since last week. The Baltic Dry Index (BDI) also hiked up …