Category archives: News

DCE inches up on better winter demand

Iron ore futures rose slightly, after opening high at the afternoon session but only to slump toward the close. Hence, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange inched up by 0.57% day-on-day to RMB 880/mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange however, went down …

Continue reading “DCE inches up on better winter demand”

Capesize rates dip despite healthy demand from Pacific

Capesize freight rates dipped slightly despite market optimism over flurry of fixtures being done in the Pacific market. Thus, the Capesize 5 time charter average inched down by $25 day-on-day to $11,996 on Tuesday, as market pullback for a slight correction. The Baltic Dry Index (BDI) however, moved flattish and booked a slight gain of …

Continue reading “Capesize rates dip despite healthy demand from Pacific”

Morning Oil Report 25/11/20

Brent crude was up 38 cents, or 0.8%, at $48.24 a barrel by 0616 GMT, having risen almost 4% in the previous session. WTI crude gained 27 cents, or 0.6%, to $45.18, after rising more than 4% on Tuesday. Levels are at the highest since March, where we entered 2020, in an already oversupplied oil …

Continue reading “Morning Oil Report 25/11/20”

European Close 24/11/20

The December Iron ore futures had a bit of a rebound overnight with price closing 1.09% higher. The rebound has been attributed to lower Brazil shipments and Bloomberg intelligence stating that price will likely stay strong before year end, as steel output remains at high levels. Steel margins remain solid and unchanged at CNY 300 …

Continue reading “European Close 24/11/20”