Capesize rates reached another new height again and broke the $20,000 level amid the freight rally. Thus, the Capesize 5 time charter average increased by $6,244 day-on-day to $25,280 on Thursday, another year-high rates, even after a selloff by trade participants for profit-taking. Supported by robust Capesize market, the Baltic Dry Index (BDI) achieved the …
Category archives: Products
Iron Ore Offshore July 20 Morning Technical Comment – 240 Min Chart
ShipShape: The Long and Winding Road
It is one of the best-known Beatles songs from their final studio album Let It Be, but it also encapsulates perfectly the challenge many commodity markets face as they begin to recover from the enormous disruption of Coronavirus. The pandemic has impacted every metric you can think of: quantitative easing, government debt, unemployment, share …
DCE flats on low port inventory
Chinese futures changed little as the market tried to end the week on positive note with huge drawdown of port inventory. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, rose slightly by 0.13% day-on-day to RMB 768 per tonne on Friday. Likewise, the steel rebar contract on …
Brent August 20 Morning Technical Comment – 240 Min
FIS Panamax Technical Report
FIS Panamax Technical Report The index is technically bullish having broken last weeks Fractal resistance. Near-term upside target is USD 9,601 with further resistance up to USD 11,315. Downside moves remain technically bullish above USD 6,934 and neutral below. To view the full report please click on the link
DCE drops for the second day on easing Brazilian supply
Chinese futures slid for the second consecutive day due to supply easing as Vale reopened its Itabira complex. As such, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, dropped by 1.03% day-on-day to RMB 765 per tonne on Thursday. However, the steel rebar contract on the Shanghai Futures …
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Capesize rates chase for new height
Capesize rates continued to chase new height for the year, buoyed by the strong shipping and iron ore demand. The Capesize 5 time charter average rose by $4,250 day-on-day to $19,036 on Wednesday, another year-high as the paper market saw over 8,000 lots change hands by the close of trading day. Likewise, the Baltic Dry …
Supramax July 20 Morning Technical Comment – 240 Min
Iron Ore Held in Check
Iron ore futures remain unchanged overnight Weds/Thurs with the July futures holding above USD 101.00 level (as of 06.15 UK time) having traded as low as USD 99.41. The world’s seconds largest commodity by volume followed the Shanghai Composite index in a holding pattern as traders wait in anticipation of the next round of RRR …