A total of 0.95 million mt of iron ores was traded for the week ended Mar 26, down 10.80% on-week, as the Tangshan’s output cuts discouraged market from iron ore procurement. Some market participants expected the output restrictions to extend to other regions and thus affected the buying interests for iron ore. During the week, …
Author archives: Titus Zheng Shujian
Daily DCE Review 26/3/21
Iron ore futures ended the week on positive gains, albeit the previous selloff sessions occurred during the start of the week, due to bearish sentiment on stricter output cuts. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then rose for the fourth consecutive trading day by 2.01% day-on-day or up RMB …
Daily Capesize Review 25/3/21
Capesize freight rates rebounded slightly with some improvement in the key trading routes amid sluggish market. The Capesize 5 time charter average then rose by $124 day-on-day to $18,490 on Thursday, with improving market sentiment on shipping demand. The Baltic Dry Index (BDI), however continued to drop by 1.00% or 22 points to 2,172 readings, …
Daily DCE Review 25/3/21
Iron ore futures rose higher on higher steel prices and margins, amid market concerns of stricter output curbs being extended to other Chinese provinces. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then rose for the third consecutive trading day by 2.74% day-on-day or up RMB 28.50 to RMB 1,067.50/mt on …
Daily Capesize Review 24/3/21
Capesize freight rates continued to slide on sluggish market, but faced little impact from the blockage at Suez Canal. The Capesize 5 time charter average then dropped by $748 day-on-day to $18,366 on Wednesday, as cape derivative continued to decline. The Baltic Dry Index (BDI) also went down further by 3.39% or 77 points to …
Daily DCE Review 24/3/21
Iron ore futures continued to rally higher after early losses occurred at the start of the week over concerns for stricter output curbs. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then rose for the second consecutive trading day by 2.78% day-on-day or up RMB 28.50 to RMB 1,053/mt on Wednesday. …
Daily Capesize Review 23/3/21
Capesize freight rates reversed into correction, with some profit-takings from trade participants after the recent rally. The Capesize 5 time charter average then plunged down by $637 day-on-day to $19,114 on Tuesday, after a selloff in the paper market. The Baltic Dry Index (BDI) followed the correction and went down by 2.07% or 48 points …
Daily DCE Review 23/3/21
Iron ore futures closed the session higher with a late rally on Tuesday, after rebounding from the selloff from previous day. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then rose by 2.01% day-on-day or up RMB 20.50 to RMB 1,039.50/mt on Tuesday. The steel rebar contract on the Shanghai Futures …
Daily Capesize Review 22/3/21
Capesize freight rates continued to push forward with firm support from smaller vessels, amid market expectation of more iron ore shipments in Q2. The Capesize 5 time charter average then inched up by $314 day-on-day to $19,751 on Monday, despite thin market activities at the start of the week. The Baltic Dry Index (BDI) also …
Daily DCE Review 22/3/21
Iron ore futures closed lower at the afternoon session, after a sell off session that begun at the start of the trading day. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then fell by 5.90% day-on-day or down RMB 63 to RMB 1,004.50/mt on Monday. The steel rebar contract on the …