Capesize freight rates inched upward, despite slow shipping activities and market concerns over disruptions of Australian coal shipments. The Capesize 5 time charter average then increased by $564 day-on-day to $19,437 on Friday, due to improvement in the physical market. The Baltic Dry Index (BDI) also surged up higher by 2.98% or 66 points to …
Author archives: Titus Zheng Shujian
Ferrous trade weekly review 19/3/21
A total of 1.065 million mt of iron ores was traded for the week ended Mar 19, up 19.93% on-week from previous week trade volumes, amid the output curb in Tangshan. Thus, the market participants were spooked by output curb, which affected the buying interests for raw materials. During the week, the PBF accounted the …
Daily DCE Review 19/3/21
Iron ore futures slid over output restriction concerns in Tangshan, which dampened market appetite for raw materials. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then dipped by 3.47% day-on-day or down RMB 37.50 to RMB 1,042/mt on Friday. The steel rebar contract on the Shanghai Futures Exchange, also dropped slightly …
Daily Capesize Review 18/3/21
Capesize freight rates continued to rally on better physical demand with firm support from smaller vessels. The Capesize 5 time charter average then increased by $942 day-on-day to $18,873 on Thursday, despite some profit-takings during the trading session. The Baltic Dry Index (BDI) also hiked up higher by 5.23% or 110 points to 2,215 readings, …
Daily DCE Review 18/3/21
Iron ore futures went up higher on tighter steel inventory, amid better downstream demand as trade participants prepared for the construction season. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then went up by 2.45% day-on-day or up RMB 26 to RMB 1,089/mt on Thursday. The steel rebar contract on the …
Daily Capesize Review 17/3/21
Capesize freight rates kept up the positive momentum with steady gains, amid improved shipping outlook. The Capesize 5 time charter average then increased by $657 day-on-day to $17,931 on Wednesday, after the modest trading volume during the session. The Baltic Dry Index (BDI) went up higher by 4.36% or 88 points to 2,105 readings, supported …
Daily DCE Review 17/3/21
Iron ore futures closed the day on slight gains, supported by high steel prices, despite a choppy session. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then went up slightly by 0.61% day-on-day or up RMB 6.50 to RMB 1,068/mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange, …
Daily Capesize Review 16/3/21
Capesize freight rates continued to improve on better shipping demand, with marginal gains recorded in both basins. The Capesize 5 time charter average then hiked up by $220 day-on-day to $17,274 on Tuesday, with good volume being changed hand in a choppy session. The Baltic Dry Index (BDI) went up higher by 1.71% or 34 …
Daily DCE Review 16/3/21
Iron ore futures rebounded from previous trading day loss, due to higher steel prices and better margins. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then surged up by 3.88% day-on-day or up RMB 40 to RMB 1,070/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange, however managed …
Daily Capesize Review 15/3/21
Capesize freight rates rose further on better market outlook, with gains recorded in both basins. The Capesize 5 time charter average then rose by $313 day-on-day to $17,054 on Monday, after a fresh wave of buyers entered market at the afternoon session. The Baltic Dry Index (BDI) also rebounded higher by 1.17% or 23 points …