Iron ore futures dipped on stricter emission cuts in steelmaking hub of Tangshan, imposed by Chinese environment ministry. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then slid by 3.50% day-on-day or up RMB 37.50 to RMB 1,035/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange, however managed …
Author archives: Titus Zheng Shujian
Daily Capesize Review 12/3/21
Capesize freight rates continued to slide from recent rally, due to cooldown of market activities after upticks. The Capesize 5 time charter average then fell by $612 day-on-day to $16,741 on Friday, after some corrections in the market. The Baltic Dry Index (BDI) also dipped slightly by 0.51% or 10 points to 1,960 readings, amid …
Ferrous trade weekly review 12/3/21
A total of 0.88 million mt of iron ores was traded for the week ended Mar 12, down 17.01% on-week from previous week trade volumes, due to the stricter output curb in Tangshan. Hence, steel prices continued to rally on reduced production, while demand remained high in China, while iron ore buyers were more cautious …
Daily DCE Review 12/3/21
Iron ore futures opened on high but followed downtrend movement at the end of afternoon session, despite high steel prices. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), dipped slightly by 0.28% day-on-day or up RMB 3 to RMB 1,059/mt on Friday. The steel rebar contract on the Shanghai Futures Exchange, …
Daily Capesize Review 11/3/21
Capesize freight rates retreated from recent rally, as trade participants took a breather from the bullish market outlook. The Capesize 5 time charter average then went down by $536 day-on-day to $17,353 on Thursday, after a choppy session. The Baltic Dry Index (BDI) also dropped slightly by 0.51% or 10 points to 1,970 readings, amid …
Daily DCE Review 11/3/21
Iron ore futures rebounded from previous trading day losses and closed higher at the afternoon session. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), rose by 5.55% day-on-day or up RMB 57.50 to RMB 1,093.50/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange followed the rally and hiked …
Daily Capesize Review 10/3/21
Capesize freight rates continued to firm up on bullish paper market with strong gains in both basins. The Capesize 5 time charter average then surged up by $1,719 day-on-day to $17,889 on Wednesday, due to better shipping outlooks. The Baltic Dry Index (BDI) also hiked up by 4.16% or 79 points to 1,980 readings, amid …
Daily DCE Review 10/3/21
Iron ore futures continued to slide on production restriction in China to comply with stricter environmental regulations. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), fell for the second consecutive day by5.24% day-on-day or down RMB 57.50 to RMB 1,040.50/mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange …
Daily Capesize Review 9/3/21
Capesize freight rates rallied on bullish shipping outlook, despite corrections in iron ore and bunker prices. The Capesize 5 time charter average then hiked up by $1,032 day-on-day to $16,170 on Tuesday, due to better market sentiments in both basins. The Baltic Dry Index (BDI) also rose by 2.59% or 48 points to 1,901 readings, …
Daily DCE Review 9/3/21
Iron ore futures plunged at the close, after a new round of output curb implemented in Tangshan to comply with stricter environmental regulations. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then nosedived by 9.95% day-on-day or down RMB 114 to RMB 1,031.50/mt on Tuesday. The steel rebar contract on the …