Daily Capesize Review 20/12/21

Capesize freight rates rebounded from recent weakness and after a series of corrections, during the last trading weeks for the year. The Capesize 5 time charter average, then jumped up by $670 day-on-day to $23,283 on Monday, as the market bottomed out from recent slump. The Baltic Dry Index (BDI) however, dipped slightly by $8, …

Daily DCE Review 20/12/21

Iron ore futures dipped at the close, despite a promising start at the morning session but only to succumbed to loss at later noon session. The futures of Dalian Commodity Exchange (DCE) for January delivery then slumped by 1.32% day-on-day or down RMB 9 to RMB 673.50/mt, during the day trading session on Monday. The …

Iron Ore DCE May Daily Technical Review 20/12/21

Verdict – Short-term neutral to bearish. DCE iron ore May22 contract corrected following the big correction of Shanghai equities and major industrial commodities. Iron ore was resisted twice over the past two trading days at 696.5- 698.5 area. If iron ore broke the 670.0 – 672.0 area, it potentially deepen correction to 645.0 area and …