Tag archives: IO

London Iron Ore Market Report 5/10/20

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Capesize sets for another yearly high level

Capesize freight rates hiked up on bullish shipping outlook with firm supports to set for another high rate for the year. The Capesize 5 time charter average hiked up by $3,734 day-on-day to $33,066 on Friday, despite the absence of Chinese participants due to holidays. The Baltic Dry Index (BDI) then went above the 2,000 …

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Lower iron ore trade volumes amid Golden week holidays

A total of 1.38 million mt of iron ores was traded for the week ended Oct 2, down almost 27% week-on-week as compared to the 1.89 million mt recorded last week. The decline in trading volumes was due to the shorter trading week as the Chinese participants were absence in the market for the Golden …

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Australia infections and Brazil production see iron ore surge

Iron ore futures surged above $121 on Wednesday on mounting supply concerns.   Australian defence personnel are being deployed to Port Hedland to help contain the coronavirus outbreak after 17 of the 21 crew members of a cargo ship were tested positive, reigniting concerns over supply disruptions.   Furthermore, exports from Brazil declined in the …

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Oil and Ore Intraday Morning Technical

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DCE jumps over shipping disruption in Australia

Iron ore futures jumped over supply concerns as coronavirus outbreak threatened iron ore shipments from Western Australian. As such, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange surged by 5% day-on-day to RMB 809 per tonne on Wednesday. The steel rebar contract on the Shanghai Futures Exchange also posted gain …

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