Category archives: News

DCE continues bullish run on better steel prices

Iron ore futures rallied on better steel margins and rode on global market optimism due to Covid-19 vaccine breakthrough. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 1.66 % or RMB 13.50 day-on-day to RMB 825.50 /mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange …

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Capesize rates rise on global market optimism

Capesize freight rates continued to rise due to market optimism over Covid-19 vaccines that improve shipping and oil demand. The Capesize 5 time charter average hiked up by RMB 427 day-on-day to $14,848 on Monday, as market sentiment improved. The Baltic Dry Index (BDI) also moved up by 0.92% or 11 points to 1,207 readings, …

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European close 9/11/20

The choice oh sources is endless, but we will use Bloomberg for the headline of the day ‘stocks surge to All-time high on vaccine optimism’ with a sub-headline ‘ Pfizer’s Covid Shot prevents 90% of infections in large study’. Equities are making new highs, oil is up 7.2% to USD 42.46, having traded as high …

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