Capesize freight rates started the week slow due to thin trading activities from holidays periods in China and Greece. The sluggish market movement might halt the positive momentum on freight rates by the end of April and only recovered with the returns of the trade participants from holidays. The Baltic Dry Index (BDI) however managed …
Author archives: Titus Zheng Shujian
Daily DCE Review 28/4/21
Iron ore futures moved lower at the close due to market concerns over price controls following the recent rally. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then dropped by 1.04% day-on-day or down RMB 12 to RMB 1,138.50/mt on Wednesday. The steel rebar contract on the Shanghai Futures …
Daily Capesize Review 27/4/21
Capesize freight rates rallied on bullish market outlook with record high iron ore prices and good steel demand from China. The Capesize 5 time charter average then surged up by $2,106 day-on-day to $37,453 on Tuesday, due to bullish market outlook. The Baltic Dry Index (BDI) then rose by 2.88% or 81 points on-day to …
Daily DCE Review 27/4/21
Iron ore futures continued to hike up on good Chinese pre-holidays restocking demand and robust steel demand. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then rose by 1.89% day-on-day or up RMB 21.50 to RMB 1,158.50/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange, also …
Daily Capesize Review 26/4/21
Capesize freight rates continued upward momentum amid bullish iron ore outlook and good Chinese pre-Labour Day restocking activities. The Capesize 5 time charter average then inched up by $585 day-on-day to $35,347 on Monday, due to better market outlook. The Baltic Dry Index (BDI) then rose slightly by 0.72% or 20 points on-day to 2,808 …
Daily DCE Review 26/4/21
Iron ore futures rallied to record high level due to robust steel demand and market concerns over extensions of output curbs to other Chinese provinces. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then jumped by 4.33% day-on-day or up RMB 47.50 to RMB 1,144.50/mt on Monday. The steel …
Daily Capesize Review 23/4/21
Capesize freight rates rebounded with gains in both basin on market optimism despite some attempts to cool down the rally. The Capesize 5 time charter average then grew up by $954 day-on-day to $34,762 on Friday, due to good shipping fundamentals. The Baltic Dry Index (BDI) then rose by 1.38 % or 38 points on-day …
Ferrous trade weekly review 23/4/21
A total of 1.63 million mt of iron ores was traded for the week ended Apr 23, up 33% on-week, as iron ore prices moved to decade-high levels on good steel margins. During the week, there was plan for production curb in another Chinese steelmaking hub at Handan, with the elimination of obsolete output facilities. …
Daily DCE Review 23/4/21
Iron ore futures closed the week on high note, with much rally throughout the week due to market optimism over good steel demand. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then rose by 1.19% day-on-day or up RMB 13 to RMB 1,104.50/mt on Friday. The steel rebar contract …
Daily Capesize Review 22/4/21
Capesize freight rates dipped after recent rally with corrections in the paper market, amid the sluggish physical market. The Capesize 5 time charter average then inched up by $518 day-on-day to $33,808 on Thursday, as trade participants took a breather from the FFA market. The Baltic Dry Index (BDI) then rose by 1.48 % or …