Capesize freight rates continued to rise on better physical market and bullish market sentiment for both basins. The Capesize 5 time charter average then rose by $344 day-on-day to $15,138 on Monday, due to active start of shipping activities for the week. The Baltic Dry Index (BDI) followed the rally and moved higher with gains …
Author archives: Titus Zheng Shujian
Daily DCE Review 8/3/21
Iron ore futures opened high on the morning session, only to flatten later at the afternoon session as steel prices dropped. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then moved up slightly by 0.26% day-on-day or RMB 3 to RMB 1,143.50/mt on Monday. The steel rebar contract on the Shanghai …
Daily Capesize Review 5/3/21
Capesize freight rates booked gains on better market sentiment, supported by higher bunker prices and better shipping demand. The Capesize 5 time charter average then rose by $920 day-on-day to $14,794 on Friday, due to better market sentiment from FFA. The Baltic Dry Index (BDI) also strengthened on the better freight rates with gains of …
Ferrous trade weekly review 5/3/21
A total of 1.07 million mt of iron ores was traded for the week ended Mar 5, up 44.59% on-week from previous week trade volumes, as most Chinese participants geared up for the construction season in March. However, some market uncertainty rose during the week, due to the commencement of China’s Two Sessions meeting as …
Daily DCE Review 5/3/21
Iron ore futures reversed into losses, due to lower steel prices and market uncertainty over the Two Sessions meeting in Beijing. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then slid up by 3.26% day-on-day or RMB 38 to RMB 1,127.50/mt on Friday. The steel rebar contract on the Shanghai Futures …
Daily Capesize Review 4/3/21
Capesize freight rates stabilized and took a breather, after recent rally with market talks of super cycle. The Capesize 5 time charter average then slipped slightly by $36 day-on-day to $13,874 on Thursday, due to the market volatility. The Baltic Dry Index (BDI) continued to rally on the strength of smaller vessel and gained slightly …
Daily DCE Review 4/3/21
Iron ore futures continued to rally on tight supply and better steel demand, amid production restriction. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then hiked up by 1.95% day-on-day or RMB 22.50 to RMB 1,174.50/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange also rose slightly by …
Daily Capesize Review 3/3/21
Capesize freight rates jumped on bullish market sentiment with supports from physical fixtures on key trading routes. The Capesize 5 time charter average then gained for the second consecutive days by $1,758 day-on-day to $13,910 on Wednesday, with better market positivity in March contracts. The Baltic Dry Index (BDI) also rallied on better freight rates …
Daily DCE Review 3/3/21
Iron ore futures inched up further today, following the rally at the start of the week on market optimism over steel demand. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then hiked up by 1.81% day-on-day or RMB 20.50 to RMB 1,153.50/mt on Wednesday. The steel rebar contract on the Shanghai …
Daily Capesize Review 2/3/21
Capesize freight rates rose higher on bullish paper market, despite slow physical activities in both basins. The Capesize 5 time charter average then hiked up by $473 day-on-day to $12,152 on Tuesday, due to better FFA market. The Baltic Dry Index (BDI) also jumped by 1.33% or 22 points to 1,673 readings, amid better freight …