Iron ore futures closed lower at the start of the week, after a high opening but only to slid at the afternoon trading session later. The most-traded iron on China’s Dalian Commodity Exchange (DCE) then dropped by 3.21% day-on-day or RMB 32 to 966/mt on Monday, dipping after record-high rally last week. The steel rebar …
Author archives: Titus Zheng Shujian
Capesize rates recover despite mixed market sentiments
Capesize freight rates hiked up on better market sentiments as shipping demand improved toward year-end with support of the strong bunker prices. The Capesize 5 time charter average then went up by $938 day-on-day to $11,889 on Friday, albeit with considerably less activity on the FFAs. The Baltic Dry Index (BDI) also moved upward by …
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Record-high iron ore prices result in lower trade volume
A total of 180,000 mt of iron ores was traded for the week ended Dec 11, down almost 80.54% week-on-week, as compared to 925,000 mt of iron ore traded last week. The week also seen iron ore prices soaring to record-high level toward $160/mt in the matter of days, which led some market experts to …
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DCE closes high, just shy of the RMB 1,000/mt mark
Iron ore futures closed at high RMB 900s/mt, just shy of the coveted RMB 1,000/mt mark, after a week of speculative trading supported by good steel demand and margins. The most-traded iron on China’s Dalian Commodity Exchange (DCE) then rose further by 4.38% day-on-day or RMB 41.50 to 989.50/mt on Friday. The steel rebar contract …
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Capesize rates recover on improving demand despite cyclone concerns
Capesize freight rates rose on better fixtures done on both basins, that lifted the recent bearish market sentiments. Thus, the Capesize 5 time charter average then hiked up by $656 day-on-day to $10,951 on Thursday, amid the recent volatility in the market. The Baltic Dry Index (BDI) also went up by 3.48% or 39 points …
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DCE rallies on high capital injections
Iron ore futures continued to chase toward the RMB 1,000/mt mark, on good steel demand and expectation of recovering economies from the pandemic. Thus, the most-traded iron ore for May 2021 delivery on China’s Dalian Commodity Exchange (DCE) rose by 6.76% day-on-day or RMB 61.50 to 971/mt on Thursday. The steel rebar contract on the …
Capesize rates head south on scant shipping demand
Capesize freight rates headed south due to weakening physical market in both basins. The Capesize 5 time charter average then went down by $312 day-on-day to $10,295 on Wednesday. The Baltic Dry Index (BDI) however, went up slightly by 0.09% or 1 points to 1,122 readings, due to robustness in the Panamaxes’ physical and futures …
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DCE pauses for a break after recent rally
Iron ore futures remained steady, after a slow start at the opening session, but only to see more upticks at the afternoon session toward the close. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange closed flat at RMB 918.50/mt on Wednesday, after a choppy trading session. The steel rebar …
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Capesize rates weaken on slow shipping demand
Capesize freight rates continued to head south on weakening freight rates, as shipping demand dipped in both basins, amid the oversupplied market. The Capesize 5 time charter average went down by $1,159 day-on-day to $10,607 on Tuesday, due to the deteriorating C5 market. The Baltic Dry Index (BDI) also dropped by 3.53% or 35 points …
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DCE’s bullish run calls for a break
Iron ore futures took a breather after the recent bullish run, which led the trading session to open high only to drop later at the close. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange booked a slight gain of 0.77% or RMB 7 day-on-day to RMB 912/mt on Tuesday. …