Category archives: Products

DCE dips in oversupplied market

Iron ore futures dipped despite some rally at the closing session, due to market concern over rising supply. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange went down by 1.14% day-on-day to RMB 783/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange were flattish and booked a …

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Capesize rates drop on low market confidence

Capesize freight rates came under pressure on bearish market sentiment and oversupplied shipping market. The Capesize 5 time charter average then dropped by RMB 754 day-on-day to $14,691 on Wednesday, following the selling pressure in the market. The Baltic Dry Index (BDI) then slipped by 3.09% or 39 points to 1,224 readings on weaker Capesize …

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Iron Ore DCE January Daily Technical Review Nov 5th

Verdict – Short-term neutral to bearish. Iron ore morning session saw a big increase on new short which drive down price. In the afternoon the recover was also due to a short covering. As a result, iron ore short positions have more initiatives compared with long positions. A breakdown on next resistance 772.5 would smash …

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Daily Ferrous Physical Review Nov 5th

Ferrous Market –    Tangshan area 10 mills gross profit up 47 yuan to 302 yuan/tonne from last week. –    Some Tangshan trade sources indicate HRC rolling mills stop operation from 4th – 6th. Some structural steel mills stopped operation again after previous curb end in Nov 1st, restart date to be announced. –    Vale resorted …

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