FIS API Blog
It was a choppy day for the Capesize rates as some market participants were concerned over a new wave of Covid-19 that might delay vessel schedules. However, the paper market is expected to make a sharp rebound with front end futures nearly up by $2,000 on Wednesday, following by increase of $1,500 on Tuesday, especially …
Continue reading “Capesize rates brace for sharp rebound amid new Covid-19 wave”
Iron ore futures inched up at the closing of the afternoon session over supply tightness of mid-grade ores among portside stocks. Thus, the most-traded iron ore for September delivery on China’s Dalian Commodity Exchange rose by 2.31% or RMB 19 day-on-day to RMB 841.50 per tonne on Wednesday. Then, the steel rebar contract on the …
Capesize rates resumed its correction phrases for the short week with Singapore on public holiday at Friday. The Capesize 5 time charter average then dropped further by $270 day-on-day to $17,014 on Monday, after a sluggish start of the short trading week. Likewise, the Baltic Dry Index (BDI) slipped 1.82% day-on-day to 1,293 readings on …
Continue reading “Capesize rates correct further on bearish outlook”
Iron ore futures dipped slightly toward the close, after opening high in morning session on better market outlook on infrastructure sectors. Thus, the most-traded iron ore for September delivery on China’s Dalian Commodity Exchange dipped slightly by 0.12% or RMB 1 day-on-day to RMB 820 per tonne on Tuesday. Likewise, the steel rebar contract on …
Capesize rates continued its downward movement due to muted market in both basin and fell further away from the $20,000 level. Thus, the Capesize 5 time charter average came under selling pressure and recorded at $17,284, down $1,258 day-on-day on Friday. The Baltic Dry Index (BDI) did not fared better as well and continued the …
Continue reading “Capesize rates spiral downward on supply glut”
Iron ore futures slid on start of the week, continuing the correction phrase seen last week on bearish market sentiments and rising US-China tension. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange dropped by 1.99% or RMB 16.50 day-on-day to RMB 814.50 per tonne on Monday. Following the drop, the steel …
Continue reading “DCE drops on market uncertainty and rising US-China tension”
It was typical week which Australian iron ores accounted most of the trade transactions that totaled to 2.5 million mt, up 18.86% week-on-week. Over half or 57.09% of iron ore transaction belonged to the Australian Pilbara Blend Fines (PBF) at 1.43 million mt, then followed by Jimblebar fines at 8.20% or 205,000 mt. Finally, the …
Continue reading “No big surprise as Australian ores dominate trades”
Capesize rates came under the $20,000 level and quick fashion after softening demand in both the Pacific and Atlantic markets. As such, the Capesize 5 time charter average plunged further by $1,578 day-on-day to $18,542 on Thursday. Following the tumble, the Baltic Dry Index (BDI) dropped by 5.77% day-on-day to 1,388 readings, reflecting the weakness …
Continue reading “Capesize rate plunges below $20,000 level on soft shipping demand”
Iron ore futures ended the week in correction as steel demand softened on lower downstream consumption. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange dropped by 2.13% or RMB 18 day-on-day to RMB 827.50 per tonne on Friday. Likewise, the steel rebar contract on the Shanghai Futures Exchange also dipped by …
Capesize rates continued its downward slide toward the $20,000 level due to the supply glut in the market. The Capesize 5 time charter average fell by $2,515 day-on-day to $20,120 on Wednesday, as trading came to stalemate and slowed in final two hours before the afternoon closing. The Baltic Dry Index (BDI) then slipped by …
Continue reading “Capesize rate slides toward $20,000 level on supply glut”
