Capesize freight rates slumped after recent rally, as some ships wanted to get covered before the weekend amid market volatility. The Capesize 5 time charter average, then dropped by $1,662 day-on-day to $13,598 on Thursday, despite support from the high bunker prices. The Baltic Dry Index (BDI) also decreased by $33 day-on-day, or down 1.54% …
Author archives: Titus Zheng Shujian
Daily DCE Review 03/03/22
Iron ore futures extended its upward climb on market optimism on better Chinese steel consumption. The futures of Dalian Commodity Exchange (DCE) for May delivery rose by 6.83% day-on-day or up RMB 51 to RMB 797.50/mt, during the day trading session on Thursday. The rebar futures also rose slightly by 0.62% or up RMB 30 …
Daily Capesize Review 2/3/22
Capesize freight rates extended bullish run due to better weathers in both Australia and Brazil that facilitated in moving of iron ore cargoes. The Capesize 5 time charter average, then rose by $1,239 day-on-day to $15,258 on Wednesday, with support from the crude prices on voyage bids. The Baltic Dry Index (BDI) also increased by …
Daily DCE Review 02/03/22
Iron ore futures continued to rise on better market sentiment on recovering steel demand and Chinese economic activities. The futures of Dalian Commodity Exchange (DCE) for May delivery then rose by 4.64% day-on-day or up RMB 33.50 to RMB 755/mt, during the day trading session on Wednesday. The rebar futures also rose by 1.76% or …
Daily Capesize Review 1/3/22
Capesize freight rates improved, being driven by bunkers and the T/Cs amid market uncertainty over the Russia-Ukraine conflict and its impact on the market. The Capesize 5 time charter average, then rose by $605 day-on-day to $14,019 on Tuesday, after a cautiously bullish market. The Baltic Dry Index (BDI) also increased by $29 day-on-day, or …
Daily DCE Review 01/03/22
Iron ore futures extended bullish run due to encouraging economic data that indicated better manufacturing activities. The futures of Dalian Commodity Exchange (DCE) for May delivery then rose by 5.51% day-on-day or up RMB 38.50 to RMB 737.50/mt, during the day trading session on Tuesday. The rebar futures also rose by 3.75% or RMB 175 …
Daily DCE Review 28/02/22
Iron ore futures rebounded from previous week of losses, despite market concern over supply from the Russia-Ukraine conflict. The futures of Dalian Commodity Exchange (DCE) for May delivery then rose by 2.69% day-on-day or up RMB 18.50 to RMB 705.50/mt, during the day trading session on Monday. The rebar futures also rose by 1.96% to …
Daily DCE Review 25/2/22
Iron ore futures dropped on market uncertainty over military conflict in Ukraine that dampened market confidence. The futures of Dalian Commodity Exchange (DCE) for May delivery then dropped by 3.13% day-on-day or down RMB 22 to RMB 680.50/mt, during the day trading session on Friday. The rebar futures also dropped by 1.85% or down RMB …
Daily Capesize Review 25/2/22
Capesize freight rates came under pressure, amid limited trading activities and market uncertainty over the Russia-Ukraine conflict. The Capesize 5 time charter average, then fell by $1,595 day-on-day to $16,589 on Friday, after a sluggish session. The Baltic Dry Index (BDI) also fell by $57 day-on-day, or down 2.54% day-on-day, to $2,187, due to softening …
Daily DCE Review 23/2/22
Iron ore futures dipped from recent rally, as Beijing policymakers stated to bring price stability from market malpractices like ‘excessive hoarding’. The futures of Dalian Commodity Exchange (DCE) for May delivery then inched down by 0.78% day-on-day or down RMB 5.50 to RMB 700/mt, during the day trading session on Wednesday. The rebar futures also …