Iron ore futures rose slightly, after opening high at the afternoon session but only to slump toward the close. Hence, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange inched up by 0.57% day-on-day to RMB 880/mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange however, went down …
Author archives: Titus Zheng Shujian
Capesize rates dip despite healthy demand from Pacific
Capesize freight rates dipped slightly despite market optimism over flurry of fixtures being done in the Pacific market. Thus, the Capesize 5 time charter average inched down by $25 day-on-day to $11,996 on Tuesday, as market pullback for a slight correction. The Baltic Dry Index (BDI) however, moved flattish and booked a slight gain of …
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DCE flattens over market uncertainty
Iron ore futures traded flat on the choppy trading session with bullish opening momentum, but only to ease toward afternoon closing session. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange were flat day-on-day to RMB 876/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange then went …
Capesize rates receive support from firm market
Capesize freight rates continued to gain upward momentum on improving physical market and market optimism. The Capesize 5 time charter average then inched up by $124 day-on-day to $12,021 on Monday, due to better freight rates in both basins. The Baltic Dry Index (BDI) followed the market positivity and went up by 1.83% or 21 …
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DCE slides on lower steel prices
Iron ore futures went down on lower steel prices, following the slowdown in Chinese construction activities as winter approached. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dropped by 1.20% or RMB 10.50 day-on-day to RMB 867.50/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange also …
Coking coal year-end outlook 2020
Capesize rates rebound on improving basins
Capesize freight rates rebounded from previous losses due to improvement in cargo lists for both the Pacific and Atlantic basins. The Capesize 5 time charter average inched up slightly by $39 day-on-day to $11,897 on Friday, amid better freight rates in both basins. The Baltic Dry Index (BDI) then increased by 1.23% or 14 points …
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Good restocking activities before winter season
A total of 2.68 million mt of iron ores was traded for the week ended Nov 20, nearly doubled week-on-week, as compared to 1.82 million mt recorded last week. The high transaction volume was attributed to active restocking activities that typically occurred at the second half of November ahead of the winter season. PBF had …
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DCE closes the week on gain from steel rally
Iron ore futures ended the week on gains, after a late session rally driven by good steel margins and prices. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange went up by 1.72 % or RMB 15 day-on-day to RMB 887.50/mt on Friday. The steel rebar contract on the Shanghai …
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Capesize rates fall due to supply gut in the Atlantic
Capesize freight rates continued to slide on mixed market from an oversupplied Atlantic market, despite some cargo improvement seen in the Pacific. Due to the mixed market movement, the Baltic Dry Index (BDI) increased slightly by 1.70% or 19 points to 1,134 readings. Both basins move in different directions Atlantic market was still oversupplied …
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