Iron ore futures went down to correction phrase, after opening high in the morning session only to close lower at the afternoon session. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) dipped slightly by 0.73% or RMB 7.50 to RMB 1,025.50/mt on Monday. Similarly, the steel rebar contract on the Shanghai …
Author archives: Titus Zheng Shujian
Capesize rates hike amid slow trading
Capesize freight rates managed to rise toward year-end, even though shipping demand slowed ahead of the holidays season. The Capesize 5 time charter average then hiked up by $224 day-on-day to $16,633 on Dec 24, despite slow trading day with only several trades being transacted in tight range. The Baltic Dry Index (BDI) was almost …
More iron ore price corrections after stricter trading measures
A total of 770,000 mt of iron ores was traded for the week ended Dec 24, less 7.23% on-week as compared to the trade volume of 770,000 mt recorded last week. Benchmark iron ore prices peaked above $175/mt since the start of the week, but soon dropped as Dalian Commodity Exchange (DCE) imposed stricter measures …
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DCE rebounds despite strict trading restrictions
Iron ore futures rebounded over buoyant market outlook, despite DCE’s tightening of trading limits. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) rose slightly by 0.93% or RMB 9.50 to RMB 1,036/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange however, dropped by 0.39% or RMB 17 day-on-day …
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Capesize rates rise on good shipping outlook
Capesize freight rates rose by year-end, due to better physical freight rates supported by firm iron ore prices. The Capesize 5 time charter average then hiked up by $940 day-on-day to $16,409 on Wednesday, amid good traded volume and strong index. The Baltic Dry Index (BDI) followed the upward market movement and rose slightly by …
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DCE corrects from trading limits
Iron ore futures continued to correct after another choppy session, as market participants felt the effect of trading limits imposed by the exchange. Thus, the most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) went down by 5.78% or RMB 62.50 to RMB 1,027/mt on Wednesday. The steel rebar contract on the Shanghai …
Capesize rates benefit from better Pacific market
Capesize freight rates inched up despite muted shipping activities, except for key shipping routes of the west Australia and Brazil to China. The Capesize 5 time charter average then hiked up by $384 day-on-day to $15,469 on Tuesday, after a quiet start to the week with small trading volume in between. The Baltic Dry Index …
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DCE ends bullish run due to crackdown measures
Iron ore futures reversed into losses after a record-breaking run, due to a selloff at the afternoon session as anti-speculative trading measures took effect. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) dropped by 4.78% or RMB 53 to RMB 1,055/mt on Tuesday. The steel rebar contract on the Shanghai Futures …
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Capesize rates move slowly prior to holiday season
Capesize freight rates managed to book slight gain, despite the shipping market slowed down due to the upcoming holiday season. The Capesize 5 time charter average inched up slightly by $142 day-on-day to $15,085 on Monday, due to thinner market volumes and rangebound activity. The Baltic Dry Index (BDI), however dropped slightly by 0.15% or …
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DCE defies gravity with bullish run
Iron ore futures continued their gravity-defying act for another record-breaking run, fueled by speculative trading and robust steel demand in China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) broke new record with a daily gain of 9.68% to RMB 1,144.50/mt on Monday. The steel rebar contract on the Shanghai Futures …