Money Movement and Macro Market The ferrous sector has started to correct after moves to control financial leverage of housing companies. This triggered some debt issues at Evergrande, one of the biggest housing companies, but the government also clarified and extend the deleveraging process to the 2023 (Bloomberg). Short-run stress finally reached an end on …
Tag archives: DF
Capesize rates correct ahead of China’s holidays
Capesize freight rates softened as trading activities slowed down ahead of Golden Week holidays. The Capesize 5 time charter average then dropped by $445 day-on-day to $23,733 on Monday, due to the market cooldown. Then, the Baltic Dry Index (BDI) dipped by 0.78% or 13 points day-on-day to 1,654 readings due to the correction of …
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FIS Daily Ferrous Report
Iron ore futures ticked up above $114 on Monday amid growing profits for industrial companies in China, though subdued trading and thin volumes are expected this week ahead of China’s “golden week” holidays. According to data from the National Bureau of Statistics, profits at Chinese industrial enterprises rose for a fourth month, as the continued …
Capesize rates hike up amid markets’ profit-taking
Capesize freight rates paused for a breather from the bullish run as market participants proceeded with profit takings. Thus, the Capesize 5 time charter average surged by $1,337 day-on-day to $24,178 on Friday, amid the market cooldown. Then, the Baltic Dry Index (BDI) jumped by 3.86% or 62 points day-on-day to 1,667 readings on good …
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Freight Intraday Morning Technical
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Capesize rates go bullish on better market fundamentals
Capesize freight rates continued its bull run due to the rally in the physical market with much improvement seen in the Atlantic market. The Capesize 5 time charter average then jumped by $4,249 day-on-day to $22,841 on Thursday, due to firming rates in both the Pacific and Atlantic basins. The Baltic Dry Index (BDI) also …
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Capesize rates hit a roofer on market optimism
Capesize freight rates hit a roofer due to market bullish sentiment and the thinner ballaster list that supported higher rates. The Capesize 5 time charter average jumped by $1,363 day-on-day to $18,592 on Wednesday, due to the upward momentum seen in both basins. Thus, the Baltic Dry Index (BDI) surged up by 4.55% or 62 …
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Capesize rates jump on better physical market
Capesize freight rates bounced from the recent slump and pushed up significantly on good shipping demand. As such, the Capesize 5 time charter average jumped by $1,140 day-on-day to $17,229 on Tuesday, with the September and October contracts making big gains. The Baltic Dry Index (BDI) chased the rally and saw gain of 3.81% or …
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Capesize rates book gains on better Pacific market
Capesize freight rates rebound on better shipping demand in the Pacific which improved overall market sentiment. Thus, the Capesize 5 time charter average rose by $328 day-on-day to $16,289 on Monday, with improved bids that boosted the paper market. The Baltic Dry Index (BDI) reflected the market optimism and posted gain of 1.39% or 18 …
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To catch a falling knife
It started overnight with the equities and the iron ore coming under pressure. Fears about banking, the global economy, and the horror that we call the Pandemic. However, this sell off feels like it might have more behind it. Since March, equities, iron ore, steel and base have shrugged of the global economic slowdown. The …