Category archives: Products

Iron ore soars on China recovery, supply fears

Iron ore futures soared on Monday after latest data indicated that China is recovering robustly from the coronavirus pandemic.    The Caixin/Markit Manufacturing Purchasing Manager for May came in at 50.7, better than both market estimates and the reading of previous month of 49.6 and 49.4 respectively, indicating that China is expanding faster than expected. …

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Capesize rates gains despite mixed market outlook

Market participants were in doubt if the Capesize market would continue to enjoy higher rates over potential supply outages from Brazil. The expected lower volume from Brazil was met with high iron ore prices that firmed up rates as the Capesize 5 time charter average jumped by $141 to $3,369 on Friday. The jump was …

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DCE starts the week on bull run

Chinese futures started the week on bullish note, amid market supply concerns and better economic data from China. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked up by 3.22% day-on-day to RMB 752.50 per tonne on Monday. Following the rally, the steel rebar contract on the Shanghai …

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Oil tries again to accentuate the positives

Brent crude was unchanged at $37.84 a barrel, in the first day of trading in the contract with August as the front month. WTI crude futures for July delivery were at $35.53 a barrel, up 4 cents, or 0.1%, by 0629 GMT. OPEC+ is set to discuss a short extension of its current output cuts, …

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