FIS API Blog
Chinese futures faced a correction on Wednesday after a recent rebound, due to market concerns over second wave of coronavirus in Beijing. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, dropped by 1.22% day-on-day to RMB 766.50 per tonne on Wednesday. Meanwhile, the steel rebar contract on …
Continue reading “DCE corrects amid second wave of coronavirus”
Capesize rates hit a record high for the year as strong iron ore demand continue to support shipping demand. The Capesize 5 time charter average reached $14,786 on Tuesday, the highest level in the year and up $1,489 at day-on-day basis. Buoyed by the robust Capesize market, the Baltic Dry Index shot up beyond the …
Continue reading “Capesize surges to year-high level on strong iron ore demand”
Chinese futures rose higher on Tuesday, buoyed by higher steel production in China from strong domestic construction demand. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, which increased by 1.03% day-on-day to RMB 781 per tonne on Tuesday. However, the steel rebar contract on the Shanghai Futures Exchange, …
Capesize rates moved up again on bullish market sentiments for both the Pacific and Atlantic basins. The Capesize 5 time charter average rose by $887 to $13,297 on Monday, reaching new highs for the prompt, while testing the recent highs on Q4 and Cal 21. The Baltic Dry Index also increased by 5.42% to 973 …
Continue reading “Capesize moves up despite slight cooldown”
Chinese futures stayed virtually flat with gains at the morning session being offset by selloff in the afternoon session. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, was flat at RMB 762.50 per tonne on Monday. The steel rebar contract on the Shanghai Futures Exchange, followed the …
Continue reading “DCE flats on lower steel demand and rising shipments”
Capesize rates continued to rally as shipping demand improved in both the Pacific and Atlantic basins. Therefore, the Capesize 5 time charter average increased by $1,734 day-on-day to $12,410 on Friday, after strong afternoon session that pushed out of the tight trading seen in the morning session. This prompted the Baltic Dry Index to push …
Capesize rates were back to the $10,000 level again, on the back of robust shipping demand in both basins. Thus, the Capesize 5 time charter average rose by $1,534 day-on-day to $10,676 on Thursday, continuing the bullish run since the start of the week. Follow in the bullish run, the Baltic Dry Index (BDI) soared …
Chinese futures closed the week on positive note after a rally at afternoon session as China’s port inventory dropped to the lowest level in four years. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, rose by 1.90% day-on-day to RMB 777 per tonne on Friday. The steel …
Chinese futures remained almost flat on limited market activity as buyers prepared for lower steel demand during rainy season. As such, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, dipped slightly by 0.59% day-on-day to RMB 759 per tonne on Thursday. Similarly, there was not much movement in …
Capesize rates continued to race upward with better shipping demand in both basins, supported by the recent iron ore rally. The Capesize 5 time charter average surged up by another $1,087 day-on-day to $9,142 on Wednesday, marking a rise throughout the week. Likewise, the Baltic Dry Index (BDI) continued to hike and reached 764 points …
Continue reading “Capesize rates race ahead on robust shipping demand”
