Capesize rates to bottom out from slump

Capesize freight rates dipped slightly on limited shipping activities and market expectation that it might bottom out after the recent slump.   Thus, the Capesize 5 time charter average then fell modestly by RMB 231 day-on-day to $15,550 on Friday, as the physical market seemed to find a floor, while the paper market braced for …

Morning Oil Report 02/11/20

Brent crude futures for January dropped $1.34, or 3.5%, to $36.60 a barrel by 0410 GMT, while U.S. WTI futures fell $1.41, or 3.9%, to $34.38. Brent ICE futures lost just under 10% for the week as the market looks to try to absorb increasing supply gluts.   Without the risk of sounding repetitive, the …

Singapore Iron Ore Derivatives Report 30/10/2020

Iron Ore Market Update Market Commentary Iron ore futures rallied to $116 in London morning as investors continued to assess rising port stockpiles against the strength of China’s steel market as the country continues its recovery from the coronavirus pandemic. Iron ore futures were initially lower in Asia as the latest MySteel data showed that …

Preparation for winter output cut ahead

A total of 1.02 million mt of iron ores was traded for the week ended Oct 30, down almost 27% week-on-week as compared to the 1.39 million mt recorded last week. The declining volumes was in line with market expectation of the upcoming winter production cut with strict environmental regulations being implemented. Pilbara Blend fines …