DCE rises to record-high level on strong steel demand

Iron ore futures continued its record-breaking surge on good steel demand and market optimism on economic recovery from the pandemic. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange then rallied by 3.43% or RMB 31 day-on-day to RMB 934/mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange, also rose slightly …

Capesize rates dip on slow shipping demand

Capesize freight rates continued to dip, due to slow shipping demand in both basins. The Capesize 5 time charter average went down by $289 day-on-day to $12,332 on Tuesday, amid the muted market. The Baltic Dry Index (BDI) then dropped by 1.30% or 16 points to 1,211 readings, due to weaker freight rates rates.   A better Atlantic …