Capesize rate inches up on mixed outlook

Capesize rate gained on mixed market outlook amid robust iron ore demand and oversupplied vessels market. The Capesize 5 time charter average gained slightly by $51 day-on-day to $20,434 on Thursday, after a rebound in market from better Pacific market. Thus, the Baltic Dry Index (BDI) also went up higher by 1.69% day-on-day to 1,500 …

DCE loses steam after week-long rally

Iron ore futures came under pressure on Friday and suffered a correction, ending a week of bullish gains. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange dropped by 1.05% or RMB 9.50 day-on-day to RMB 896 per tonne on Friday. As such, the Shanghai Futures Exchange also dropped slightly by 0.60% …

Morning Oil Note 7/8/20

Good morning all. Brent crude fell 6 cents, or 0.1%, to $45.03 at 2:46 am GMT, while WTI crude futures slipped 2 cents to $41.93 a barrel. The resurgence of coronavirus infections remains the main uncertainty in the oil market, as that will determine how fast fuel demand rebounds. Tallies show infections in the United States are …