Iron ore futures continued to rally on better steel margins and expectation of better steel demand for post-Lunar New Year period. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then surged up by 4.32% day-on-day or RMB 44 to RMB 1,062/mt on Tuesday. The steel rebar contract on the Shanghai Futures …
Author archives: Titus Zheng Shujian
Daily Capesize Review 8/2/21
Capesize freight rates continued to slide downward on market inactivity with the absence of Chinese trade participants on holidays celebration. The Capesize 5 time charter average then dropped by $605 day-on-day to $12,057 on Monday, on thin market activities at the start of the week. The Baltic Dry Index (BDI) followed the downtrend and dipped …
Daily DCE Review 8/2/21
Iron ore futures started the week on bullish rally, due to market optimism over the post-Lunar New Year demand. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then jumped by 2.90% day-on-day or RMB 29 to RMB 1,028/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange also rose …
Daily Capesize Review 5/2/21
Capesize freight rates remained under pressure as Chinese trade participants prepared for Lunar New Year celebrations. The Capesize 5 time charter average then dipped slightly by $110 day-on-day to $12,662 on Friday, due to thin market activities. The Baltic Dry Index (BDI), however rose slightly by 0.45% or 6 points to 1,333 readings, due to …
Ferrous Trade Weekly Review 5/2/21
A total of 1,340,000 mt of iron ores was traded for the week ended Feb 5, down 22% as compared to previous week. During the week, most end-users were heard to complete their restocking activities, though the demand for post-Lunar New Year holiday remained high, as market participants expected the Beijing policymakers to introduce some …
Daily DCE Review 5/2/21
Iron ore futures continued to rally on market anticipation of better post-Lunar New Year demand that bounced futures contract to the RMB 1,000/mt mark. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then hiked up by 4.20% day-on-day or RMB 40.50 to RMB 1,004.50/mt on Friday. The steel rebar contract on …
Daily Capesize Review 4/2/21
Capesize freight rates dipped slightly as the index flattened after much improvement with support from the rising bunker prices. The Capesize 5 time charter average then dropped slightly by $30 day-on-day to $12,772 on Thursday, after much improvement seen in the February contracts. The Baltic Dry Index (BDI) then remained flat at 1,327 readings after …
Daily DCE Review 4/2/21
Iron ore futures jumped on better post-Lunar New Year demand, which resulted a rally in the afternoon session. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), jumped by 5.26% day-on-day or RMB 49.50 to RMB 991/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange also rose by 1.94% …
Daily Capesize Review 3/2/21
Capesize freight rates slid downward on muted physical market with Lunar New Year holidays round the corner. The Capesize 5 time charter average then slumped further by $1,251 day-on-day to $12,802 on Wednesday, after a choppy trading session. The Baltic Dry Index (BDI) also continued to dip further by 3.84% day-on-day or 53 points to …
Daily DCE Review 3/2/21
Iron ore futures had a choppy trading session, following a late rally at the closing afternoon session to recover the losses at the morning session. Despite the late charge, the most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), dipped slightly by 0.89% day-on-day or RMB 8.50 to RMB 948/mt on Wednesday. The …