Category archives: News

Iron ore futures sink as stockpiles rise

Iron ore futures sank to 106 in London on Friday as stockpiles in China expanded yet again. Inventory at ports rose by 2.78 million tonnes on week to 113.25 million tonnes, according to Mysteel data. Material from both Australia and Brazil climbed, with the latter gaining more than 5%. This was further exacerbated by the …

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No big surprise as Australian ores dominate trades

It was typical week which Australian iron ores accounted most of the trade transactions that totaled to 2.5 million mt, up 18.86% week-on-week. Over half or 57.09% of iron ore transaction belonged to the Australian Pilbara Blend Fines (PBF) at 1.43 million mt, then followed by Jimblebar fines at 8.20% or 205,000 mt. Finally, the …

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Capesize rate plunges below $20,000 level on soft shipping demand

Capesize rates came under the $20,000 level and quick fashion after softening demand in both the Pacific and Atlantic markets. As such, the Capesize 5 time charter average plunged further by $1,578 day-on-day to $18,542 on Thursday. Following the tumble, the Baltic Dry Index (BDI) dropped by 5.77% day-on-day to 1,388 readings, reflecting the weakness …

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