DCE benefits from high steel prices and margins

Iron ore futures hiked up higher on better steel prices and market optimism on better steel margins and demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange booked a gain of 2.64% or RMB 22 day-on-day to RMB 855/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange …

RCEP agreement fails to support Capesize market

Capesize freight rates continued to correct on softening physical market for a slow start to the week. The Capesize 5 time charter average then dipped by RMB 216 day-on-day to $12,282 on Monday, amid thin market activities with public holidays in Singapore and India. The Baltic Dry Index (BDI) also fell slightly by 0.36% or …