Iron ore futures rallied at the close of afternoon session, due to market optimism over high steel demand during construction season. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then rose by 1.49% day-on-day or RMB 17 to RMB 1,154.50/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange …
Author archives: Titus Zheng Shujian
Daily Capesize Review 1/3/21
Capesize freight rates dipped lower on thin market activities, due to trade participants’ concerns over unfavorable weathers and lengthy ballaster list. The Capesize 5 time charter average then dropped by $255 day-on-day to $11,679 on Monday, due to weak physical market. The Baltic Dry Index (BDI) also fell further by 1.43% or 24 points to …
Daily DCE Review 1/3/21
Iron ore futures opened high, but only to dip at afternoon session, due to poorer economic indicators from China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then dropped by 0.83% day-on-day or RMB 9.50 to RMB 1,132.50/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange also went …
Daily Capesize Review 26/2/21
Capesize freight rates continued its downward movement, as the physical market flattened out in both basins. The Capesize 5 time charter average then dropped by $269 day-on-day to $11,934 on Friday, as liquidity dried up in the physical market. The Baltic Dry Index (BDI) also dipped by 1.47% or 25 points to 1,675 readings, amid …
Ferrous trade weekly review 26/2/21
A total of 740,000 mt of iron ores was traded for the week ended Feb 26, as the market welcomed the return of Chinese trade participants from holidays. During the week, the trading activities began sluggishly and thinned as mills gradually resumed to the full operation capacity to pre-holidays level. Nevertheless, the PBF accounted the …
Daily DCE Review 26/2/21
Iron ore futures closed higher at the afternoon session, despite a sluggish start in the morning session, amid good steel consumption for the week. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then rose by 1.72% day-on-day or RMB 19.50 to RMB 1,151/mt on Friday. The steel rebar contract on the …
Daily Capesize Review 25/2/21
Capesize freight rates fell on market volatility, despite some upward momentum seen in the C5 in the paper market. The Capesize 5 time charter average then dipped slightly by $112 day-on-day to $12,203 on Thursday, amid a choppy session for the FFAs market. Thus, the Baltic Dry Index (BDI) also dropped slightly by 0.53% or …
Daily DCE Review 25/2/21
Iron ore futures opened high, but only to flatten at the afternoon closing session, amid strong Chinese steel demand. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then rose by 1.39% day-on-day or RMB 15.50 to RMB 1,131/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange also went …
Daily Capesize Review 24/2/21
Capesize freight rates softened on thin shipping activities with much market uncertainty in both basins. The Capesize 5 time charter average then dropped further by $901 day-on-day to $12,316 on Wednesday, as the paper market traded at tight range for March contract. Thus, the Baltic Dry Index (BDI) reversed into losses despite the strength of …
Daily DCE Review 24/2/21
Iron ore futures moved flattish in choppy session and spotted a gain after a late rally in the afternoon session. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then rose slightly by 0.44% day-on-day or RMB 5 to RMB 1,129.50/mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange …