Iron ore futures moved flattish after a recent market selloff, due to market concerns over slow restocking activities and thin steel margins. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) dropped by 0.24% day-on-day or RMB 2.50 to RMB 1,041.50/mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange …
Author archives: Titus Zheng Shujian
Daily Capesize Review 26/1/21
Capesize freight rates extended losses from weak physical fundamentals that resulted a selloff in the paper market. The Capesize 5 time charter average then plunged further by $2,657 day-on-day to $20,709 on Tuesday, following the weak physical market. The Baltic Dry Index (BDI) then headed south on weakening freight rates and fell by 6.01 % …
Daily DCE Review 26/1/21
Iron ore futures opened high but dipped at the close with further market selloff, as restocking activities slowed. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) dropped by 1.54% day-on-day or RMB 16 to RMB 1,025/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange however, gained slightly by …
Daily Capesize Review 25/1/21
Capesize freight rates continued it downward spiral with softening physical demand in both basins that were affected by unfavorable weather conditions. The Capesize 5 time charter average then slid further by $1,265 day-on-day to $23,366 on Monday, due to slow start to the trading week. The Baltic Dry Index (BDI) also headed southward on weakening …
Daily DCE Review 25/1/21
Iron ore futures traded high on the morning session but faced some correction in afternoon session in a volatile trading market. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) dropped slightly by 0.71% day-on-day or RMB 7.50 to RMB 1,047/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange …
Daily Capesize Review 22/1/21
Capesize freight rates headed south again in another round of volatile trading in the market with concerns over cyclone development and lower shipping demand. The Capesize 5 time charter average then fell further by $884 day-on-day to $24,631 on Friday, with lower paper volume traded in a volatile market. The Baltic Dry Index (BDI) moved …
Ferrous trade weekly review 22/1/21
A total of 1,480,000 mt of iron ores was traded for the week ended Jan 22, up almost 28% as compared to previous week, amid the pre-Lunar New Year restocking activities. During the week, the market participants were concerned cyclone development in Australia, and the aftermath of fire incident in Vale’s Ponta do Madeira iron …
Daily DCE Review 22/1/21
Iron ore futures opened high, but only to face a selloff at the start of afternoon session and closed lower by day-end. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) dropped slightly by 0.48% day-on-day or RMB 5 to RMB 1,046/mt on Friday. The steel rebar contract on the Shanghai Futures …
Daily Capesize Review 21/1/21
Capesize freight rates dipped over market concerns of cyclone threat and mixed outlooks for the freight market. The Capesize 5 time charter average then dipped by $42 day-on-day to $25,515 on Thursday, after a flat trading session with much market focus on the February contract. The Baltic Dry Index (BDI) also moved higher on improving …
Daily DCE Review 21/1/21
Iron ore futures opened low and closed higher at the afternoon session, amid market concerns over cyclone development in Australia. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then rose slightly by 0.90% day-on-day or RMB 9.50 to RMB 1,061/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange …