Iron ore futures closed the week on slight losses, after much market rally in the week as trade participants returned from holidays. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), then fell slightly by 0.41% day-on-day or down RMB 4 to RMB 979/mt on Friday. The steel rebar contract on the Shanghai …
Author archives: Titus Zheng Shujian
Daily Capesize Review 8/4/21
Capesize freight rates continued to rise on market optimism, after much support from Brazil’s shipping demand. The Capesize 5 time charter average then rose by $406 day-on-day to $22,874 on Thursday, despite some correction in the Pacific freight rates. The Baltic Dry Index (BDI) then faced some corrections after recent rally and went down by …
Daily DCE Review 8/4/21
Iron ore futures dropped slightly at the afternoon close, despite a rally at the start of the afternoon trading session. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), then dipped down by 0.56% day-on-day or down RMB 5.50 to RMB 982.50/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange, …
Daily Capesize Review 7/4/21
Capesize freight rates rose on better shipping demand in both basins and firm market outlook for Q2. The Capesize 5 time charter average then increased by $1,506 day-on-day to $22,468 on Wednesday, with May and June contracts jumping over $25,000/day levels. The Baltic Dry Index (BDI) also went up by 1.67% or 35 points to …
Daily DCE Review 7/4/21
Iron ore futures rebounded after a selloff in the morning session, rallying in the afternoon session toward the close. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), then hiked up by 1.69% day-on-day or up RMB 16.50 to RMB 993.50/mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange, however …
Daily Capesize Review 6/4/21
Capesize freight rates continued to rise with the return of trade participants from holidays and on firmer shipping fundamentals. The Capesize 5 time charter average then increased by $1,109 day-on-day to $20,962 on Tuesday, after a buying spree in the trading session. The Baltic Dry Index (BDI) also hiked up slightly by 0.97% or 20 …
Daily DCE Review 6/4/21
Iron ore futures retreated despite the return of trade participants from holidays season and record-high steel prices. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then dropped by 0.61% day-on-day or down RMB 6 to RMB 971/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange, however surged up …
Daily Capesize Review 5/4/21
Capesize freight rates found supports in better shipping fundamentals in the Atlantic market with higher iron ore shipment volumes from Brazil. This was due to better weather conditions in Brazil with the passing of rainy seasons to allow miners to ramp up productions for exports. Meanwhile, the shipping participants were still returning to the market …
Daily DCE Review 5/4/21
Iron ore futures were closed on China’s Ching Ming holidays, despite upticks in steel prices due to stringent inspection checks. During the market inactivity, Tangshan billet prices got much market attention, as it rose for a total of RMB 220 since the start of month to RMB 5,020/mt as of Apr 5. The price upticks …
Daily Capesize Review 2/4/21
Capesize freight rates are expected to rise in the second quarter of the year, in anticipation of strong iron ore exports from Australia and Brazil. After a strong Q1, shipping fundamentals remained robust with a relatively tight dry bulk supply amid plenty of commodity demand. The Baltic Dry Index (BDI), then rose by 1.27% or …