Iron ore futures moved flattish since opening and closed lower in the afternoon session as market cooled down after recent rally. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then dipped slightly by 0.46% day-on-day or up RMB 5 to RMB 1,091.50/mt on Thursday. The steel rebar contract on …
Author archives: Titus Zheng Shujian
Daily Capesize Review 21/4/21
Capesize freight rates rebounded into new highs with market optimism of another super cycle in the corner that boosted confidence. The Capesize 5 time charter average then surged up by $4,638 day-on-day to $33,290 on Wednesday, amid bullish market outlooks. The Baltic Dry Index (BDI) then rallied by 9.63 % or 238 points to 2,710 …
Daily DCE Review 21/4/21
Iron ore futures closed on higher note after a late rally at the afternoon session to recoup losses from the earlier session. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then rose by 1.38% day-on-day or up RMB 15 to RMB 1,100.50/mt on Wednesday. The steel rebar contract on …
Daily Capesize Review 20/4/21
Capesize freight rates ended the bullish run with slight dip after softening physical and paper market. The Capesize 5 time charter average then dipped by $178 day-on-day to $28,652 on Tuesday, despite a late push in the paper market after market talks of Vale’s booking around 8-10 ships. The Baltic Dry Index (BDI) however continued …
Daily DCE Review 20/4/21
Iron ore futures continued to rally since opening session and closed higher at the afternoon trading session amid robust steel demand. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then rose by 3.58% day-on-day or up RMB 38 to RMB 1,100/mt on Tuesday. The steel rebar contract on the …
Daily Capesize Review 19/4/21
Capesize freight rates continued to climb due to bullish market outlook that resulted in stronger FFA market. The Capesize 5 time charter average then rose by $310 day-on-day to $28,830 on Monday, following the rally last week. The Baltic Dry Index (BDI) also rose further by 1.97 % or 47 points to 2,432 readings, due …
Daily DCE Review 19/4/21
Iron ore futures rallied high at the morning session, only to ease in the afternoon session and eked out small gains at the close. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then inched up by 0.81% day-on-day or up RMB 8.50 to RMB 1,060/mt on Monday. The steel …
Daily Capesize Review 16/4/21
Capesize freight rates made small gains after cooling down from the recent rally over better shipping fundamentals. The Capesize 5 time charter average then gained slightly by $464 day-on-day to $28,520 on Friday, despite relative smaller volumes traded at the close of the week. The Baltic Dry Index (BDI) also rose further by 2.67 % …
Ferrous trade weekly review 16/4/21
A total of 1.23 million mt of iron ores was traded for the week ended Apr 16, amid the ongoing output restriction and inspection safety checks in Tangshan. Throughout the week, there was some market talks of easing the output curb in Tangshan that led to iron ore futures rally, though it did not receive …
Daily DCE Review 16/4/21
Iron ore futures closed the week on positive note, after much rally on the week due to market talks over easing of output restrictions. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then inched up by 0.92% day-on-day or up RMB 9.50 to RMB 1,046/mt on Friday. The steel …