FIS API Blog
It was another a bullish day for Capesize rates as the $30,000 level was broken due to firm shipping demand in moving iron ore cargoes. With the return of Chinese trade participants from holidays, the Capesize 5 time charter average surged by $1,137 day-on-day to $30,778 on Monday. The Baltic Dry Index (BDI) then peaked …
Continue reading “Capesize breaks the $30,000 level on robust shipping demand”
Chinese futures fell for the second consecutive day due to market concerns over lower steel demand the rainy season. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, went down slightly by RMB 3.50 or 0.47% day-on-day at RMB 744.50 per tonne on Tuesday. The steel rebar contract on …
Continue reading “DCE flattens for second day amid slow season”
Capesize rates saw little gains as Chinese trade participants were away on holidays, leaving the market with thin activities. Despite the muted activities, the Capesize 5 time charter average still managed to rise by $246 day-on-day to $29,641 on Friday. The Baltic Dry Index (BDI) kept its upward momentum to 1,749 points on Jun 26, …
Chinese futures slipped downward despite the return of Chinese participants after a long holiday. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, went down by RMB 29 or 3.79% day-on-day at RMB 736 per tonne on Monday. The steel rebar contract on the Shanghai Futures Exchange followed suite …
Continue reading “DCE drops despite return of Chinese participants from holidays”
BHP completed its first blockchain iron ore trade with China Baoshan Iron & Steel worth around 14 million mt on Monday. The transaction was done via MineHub platform for June delivery and the platform process included contract terms, exchanged digital documents and provided real-time cargo visibility. Keeping its promise Thus, BHP had kept its …
Continue reading “BHP makes first blockchain trade with Baosteel”
Australian medium grade fines kept its high popularity status among Chinese buyers for the week ended on 26 Jun 2020. The short trading saw a total of 2.4 million mt iron ore exchanged hands, up 21.26% on-week from previous week volumes at 1.9 million mt. New platform for iron ore trading The uptick of …
Continue reading “PBF purchases remain popular among Chinese mills”
Capesize rates moved slower but gradually toward the $30,000 mark, due to the absence of Chinese trade participants during the Dragon Boat Festival holidays. Therefore, the Capesize 5 time charter average rose by $738 day-on-day to $29,395 on Thursday, despite some market concerns about the longevity of the C3 contracts. Strengthened by Capesize market, the …
Continue reading “Capesize rates slow down amid Chinese holidays”
Chinese futures remained stagnant in the view of the Dragon Boat festival in the Jun 25-27 period. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, were unchanged day-on-day at RMB 771 per tonne on Thursday. Similarly, the steel rebar contract on the Shanghai Futures Exchange was flat at …
Continue reading “DCE off for Dragon Boat festival holidays”
Capesize rates seemed to set its sight for the $30,000 level in view of high iron ore prices that lifted shipping demand for moving iron ores. The Capesize 5 time charter average hiked up further by $1,985 day-on-day to $28,657 on Wednesday, despite aggressive sell off at the Q3 contracts. Due to Capesize rally, the …
Chinese futures rebounded from recent corrections after a late rally seen in the afternoon session, prompted by a flurry of trades done at higher levels. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, jumped by 2.05% day-on-day to RMB 771 per tonne on Wednesday. The steel rebar …
