Category archives: News

DCE dips in oversupplied market

Iron ore futures dipped despite some rally at the closing session, due to market concern over rising supply. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange went down by 1.14% day-on-day to RMB 783/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange were flattish and booked a …

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Capesize rates drop on low market confidence

Capesize freight rates came under pressure on bearish market sentiment and oversupplied shipping market. The Capesize 5 time charter average then dropped by RMB 754 day-on-day to $14,691 on Wednesday, following the selling pressure in the market. The Baltic Dry Index (BDI) then slipped by 3.09% or 39 points to 1,224 readings on weaker Capesize …

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European close 04/11/20

A bit of a damp squib for iron ore today. Expectations that we may see some form of breakout have been put to bed with the futures failing to the upside and holding the downside. U.S elections are not that interesting after all!   It may not be a case of stick or bust but …

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