FIS API Blog
A total of 1.5 million mt of iron ores was traded for the week ended Oct 16, up almost 8.7% week-on-week as compared to the 1.38 million mt recorded as of Sep 30. The uptick in trading volumes was due to the return of Chinese participants from the weeklong National Day holidays in early October. …
Continue reading “A decent rebound for the post-Golden week”
Iron ore futures ended the week in decline due to high port inventory and slow steel demand in China. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dipped down by 0.63% day-on-day to RMB 785.50 per tonne on Friday. The steel rebar contract on the Shanghai Futures Exchange remained flattish …
Continue reading “DCE dips further as port inventory reaches 7-month high”
Capesize freight rates continued to decline further due to aggressive selloff in paper market and bearish sentiment in the physical market. The Capesize 5 time charter average fell by $1,568 day-on-day to $21,737 on Thursday, as buyers retreated from the market, while sellers chased it lower. As such, the Baltic Dry Index (BDI) then fell …
Continue reading “Capesize rates drop on weak shipping fundamentals”
Iron ore futures dipped on slower steel demand and high inventory among end-users. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dipped down by 2.17% day-on-day to RMB 787.50 per tonne on Thursday. The steel rebar contract on the Shanghai Futures Exchange was almost flat and dropped slightly by 0.28% …
Capesize freight rates headed down the curve, after another round of discounting in both basins, without much improvement in the physical market. The Capesize 5 time charter average fell by $2,192 day-on-day to $23,305 on Wednesday, due to bearish sentiment on the physical side. With freight rates dropping everywhere, the Baltic Dry Index (BDI) then …
Continue reading “Capesize rates slide on bearish physical market”
Iron ore futures opened high before dropping at the closing due to high port inventory and lower steel production. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange ended the afternoon session down by 2.38% day-on-day to a two-week low of RMB 798.50 per tonne on Wednesday. The steel rebar contract …
Continue reading “DCE dips from higher supplies and lower steel output”
Capesize freight rates continued to be under pressure, following the thin activities in the physical market. The Capesize 5 time charter average dropped by $1,836 day-on-day to $25,497 on Tuesday, despite some market talks of another rally in Q4 as miners accelerated their ore exports by year-end. Due to the declining freight rates, the Baltic …
Continue reading “Capesize rates retreat on mixed market outlook”
Iron ore futures dipped on high port stocks accumulated over the holidays period, while steel demand slowed from output cut from Tangshan. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dropped by 1.57% day-on-day to RMB 813 per tonne on Tuesday. The steel rebar contract on the Shanghai Futures Exchange …
Continue reading “DCE falls on high stocks and lower steel output”
Capesize freight rates continued to head south on selling pressure on the paper market and thin physical trading market. The Capesize 5 time charter average fell by $2,146 day-on-day to $27,333 on Monday, due to aggressive selloff, but gained some ground as Pilbara port authorities were turning away covid infected crews. The Baltic Dry Index …
Continue reading “Capesize rates falls on soft physical market”
Iron ore futures made small gain for the day due to the high steel stocks and little price movement in steel products. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange stayed almost flattish but inched up by 0.36% day-on-day to RMB 825 per tonne on Monday. The steel rebar contract …
