Category archives: News

DCE flattens over market uncertainty

Iron ore futures traded flat on the choppy trading session with bullish opening momentum, but only to ease toward afternoon closing session. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange were flat day-on-day to RMB 876/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange then went …

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Capesize rates receive support from firm market

Capesize freight rates continued to gain upward momentum on improving physical market and market optimism. The Capesize 5 time charter average then inched up by $124 day-on-day to $12,021 on Monday, due to better freight rates in both basins. The Baltic Dry Index (BDI) followed the market positivity and went up by 1.83% or 21 …

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Morning Oil Report 24/11/20

Brent crude futures rose 43 cents, or 0.9%, to $46.49 a barrel by 0522 GMT, while U.S. West Texas Intermediate crude rose 45 cents, or 1.1%, to $43.51 a barrel.   Yesterday marked a big step in the administration of Biden, where the handover of power began from Trump in advance of the president-elect due …

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European Close 23-11-20

Steel margins remains supported at CNY 301; however, the iron ore market has now started to come under pressure with yesterday’s futures closing 1.12 % lower at USD 123.35.  Price dropped from a six year high after BHP flagged near-term downside risks to Morgan Stanley at a roundtable last week. BHP cited a rebound in …

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