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Steelmaking Ingredient News

31 Aug 2023

Decline in Bigger Vessels Drags Baltic Index to Monthly Dip

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The Baltic exchange's main sea freight index tracing rates for ships ferrying dry bulk commodities recorded its first monthly decline in three months on Thursday, pressured by lower rates for the larger capesize and panamax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, edged down by 8 points, to 1,086.The main index shed 3.6% for the month of August.The capesize index fell 29 points or 2.6% to 1,094 on Thursday, its lowest level in almost six months.

19 Jul 2023

Demand for Larger Dry Bulk Vessels Wanes

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for a fourth straight session on Wednesday, pressured by lower rates for larger capesize and panamax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell by 33 points, or 3.2%, to 1,004.The capesize index went down by 61 points, or 4%, to its lowest level in near six-week at 1,468.Average daily earnings for capesizes…

09 May 2023

Baltic Index Rises on Strong Capesize, Supramax Demand

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday, aided by higher rates for capesize and supramax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 40 points, or 2.6%, to its highest in eight weeks at 1,598.The capesize index was up 125 points, or 5.2%, at 2,509 — its highest since Dec. 22.Average daily earnings for capesizes, which typically transport 150…

20 Apr 2023

Baltic Dry Index Logs Best Day in Over Five Weeks

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, posted its biggest single-day gain since mid-March on Thursday, steered by higher shipping rates for all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 60 points, or 4.4%, to 1,432 — its biggest daily percentage rise since March 14.The capesize index snapped its four-session losing streak, up 135 points, or 8.2%…

13 Apr 2023

Baltic Index Steady as Capesize Bounce Offsets Dip in Smaller Vessels

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The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities, was flat on Thursday as higher rates for capesizes countered a dip in smaller vessel segments.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, remained unchanged at 1,463.The capesize index gained 66 points, or 3.6%, at 1,888 — its biggest rise in a week.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal…

01 Feb 2023

Dalian Coking Coal Slumps as Traders Eye Australian Supply

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Chinese coking coal futures extended losses to hit their lowest in four weeks on Wednesday, as traders kept an eye on a batch of Australian coal cargoes expected to arrive soon in top steel producer China.Rising Chinese steel inventories also weighed on overall market sentiment, analysts said.China is seen gradually resuming Australian coal imports, having eased an unofficial trade ban imposed in 2020, as signs of warming ties between the two countries have emerged.Prices of the steelmaking ingredient have dropped nearly 5% since the start of the year.The most-traded coking coal…

15 Dec 2022

Baltic Dry Index Logs Best Day in Nearly Three Months

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The Baltic Exchange's dry bulk sea freight index rose on Thursday to mark its biggest one-day percentage gain since mid-September, underpinned by a jump in capesize rates.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, gained 127 points, or about 9.1%, to 1,528 - its highest since Oct. 28.The capesize index climbed 372 points, or about 21.6%, to 2,095, its highest level since Oct.

09 Nov 2022

Baltic Dry Index Posts Best Day in a Month

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The Baltic Exchange's dry bulk sea freight index rose for a fourth straight session on Wednesday to mark its biggest one-day percentage gain in a month, supported by stronger demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, rose 37 points, or about 2.7%, to 1,393, the highest level since Oct. 31.The capesize index rose 144 points, or about 9.7%, to 1,637, the highest level since Oct.

13 Oct 2022

Dry Bulk: Vessel Demand Wanes

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The Baltic Exchange's dry bulk sea freight index fell for the sixth consecutive session on Thursday to mark its worst day since mid-September, as rates slipped across all vessel segments.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, fell 55 points, or about 3%, to 1,818.The capesize index fell 105 points, or about 4.8%, to 2,094.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as coal and steel making ingredient iron ore used in construction, fell $876 to $17,365.Iron ore futures dipped, with the Dalian

30 Aug 2022

Baltic Dry Index Extends Dip

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The Baltic Exchange's main sea freight index fell for a fourth straight session on Tuesday as weakness in Chinese steel consumption took a toll on capesize demand, while rates for other vessel segments also retreated.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 65 points, or about 6%, to 1,017 points, a more than two-year low.The capesize index fell for the fourth consecutive session, shedding 74 points, or about 18%, to 337 points…

19 Jul 2022

Capesize Dip Weighs On Baltic Dry Index

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The Baltic Exchange's main sea freight index edged down on Tuesday as the capesize segment snapped a four-session streak of gains.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 17 points, or 0.8%, at 2,145 points.The capesize index fell by 68 points, or 2.3%, to 2,899 points.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $560 at $24,043.Chinese steel futures rose on the day, buoyed by government efforts to relieve financial distress in the country's troubled prop

11 Feb 2022

Benchmark Dalian Iron Ore Futures Plunge

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Chinese iron ore futures dived more than 8% late on Friday after the country's regulators and industry association issued warnings against recent unusual price moves of the key steelmaking ingredient.Earlier on Friday, the National Development and Reform Commission (NDRC), which is the country's state planner, said it and the market regulator would dispatch investigation teams to the commodity exchange and key ports to look into iron ore inventories and trading in the spot and futures market.The NDRC…

25 Jan 2022

Dry Bulk Shipping: Vessel Demand Waning

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The Baltic Exchange's dry bulk sea freight index fell for a 13th straight session on Tuesday, dragged lower by weaker rates across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax vessels, fell 48 points, or 3.5%, to 1,343, its lowest since mid-February 2021.The capesize index dropped 91 points, or 10.9%, to 745, its lowest since June 2020.Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, dropped by $755 to $6,180.Iron ore futures in China and Singapore rose on Tuesday after miner Fortescue Met

07 Jan 2022

China Steel Hopes Drives Iron Ore Demand

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Dalian iron ore rose on Friday and advanced nearly 6% this week as traders returned from New Year holidays feeling optimistic about potential demand recovery in top steel producer China.Iron ore's most-active May contract on China's Dalian Commodity Exchange ended daytime trading 1.4% higher at 719 yuan ($112.78) a tonne, rising for a fourth straight session and touching 725.50 yuan earlier in the day, its highest since Oct. 27.On the Singapore Exchange, the steelmaking ingredient's most-traded contract expiring by end-February climbed as much as 0.7% to $128.25 a tonne…

05 Jan 2022

Baltic Dry Index Steady as Higher Panamax Rates Offset Capesize Dip

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The Baltic Exchange's dry bulk sea freight index was little changed on Wednesday, as higher rates for panamax vessels countered a dip in the capesize and supramax segments.The overall index, which factors in rates for capesize, panamax and supramax vessels, rose by 4 points to 2,289.The capesize index fell 49 points, or 2.1%, to 2,301, its lowest level since late-March, 2021.Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, decreased by $406 to $19,084.Iron ore futures rose on Wednesday as restocking demand in China propelled spot prices of

30 Dec 2021

Chinese Uncertainties Continues to Weigh on Iron Ore Futures

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Dalian and Singapore iron ore futures rebounded on Thursday after three days of losses, but worries over demand for the steelmaking ingredient in top steel producer China kept benchmark prices near their two-week lows hit the day before.The most-traded May iron ore contract on China's Dalian Commodity Exchange rose 2.4% to 679 yuan ($106.59) a tonne by 0248 GMT. It touched 650.50 yuan in the previous session, its lowest since Dec. 15.Iron ore's most-active February contract on…

21 Dec 2021

Baltic Dry Index Extends Fall as Vessel Rates Slide

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The Baltic Exchange's dry bulk sea freight index fell for the ninth straight session on Tuesday, hovering near an eight-month low, tracking a retreat across its vessel segments.The overall index, which factors in rates for capesize, panamax and supramax vessels, shed 77 points, or 3.3%, to 2,294, its lowest since April 14."It seems that the overall market has already entered a correction path just a breath before the close of the year," Allied Shipbroking said in a weekly note.The capesize index dropped 144 points, or 5.1%, to 2,663, its lowest since June 9.Average daily earnings for capesizes

17 Nov 2021

Baltic Dry Index Extends Losses as Vessel Rates Drag

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The Baltic Exchange's dry bulk sea freight index fell for a fifth straight session on Wednesday to its lowest in more than five months, as rates slipped across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax vessels, dropped 161 points, or 6.2% - the most in two weeks - to its lowest since June 8 at 2,430 points.The capesize index shed 319 points, or 9.4%, to its lowest since early June at 3,064.Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, fell $2,653 to $25,406.Easing congestion at Chine

10 Aug 2021

Smaller Vessel Gains Buoy Baltic Dry Index

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The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, edged up on Tuesday, supported by gains in rates of panamax and smaller vessel segments.The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up four points at 3,375, the highest since Aug.

29 Jul 2021

Iron Ore: China Demand Powers Fortescue Shipments to Record

Port Hedland - Australia - Credit: Adwo/AdobeStock

Australia's Fortescue Metals Group Ltd on Thursday narrowly beat its full-year estimate for iron ore shipments after a record fourth quarter, as strong demand from top consumer China offset the impact of bad weather.The world's fourth-largest iron ore miner fared better than rivals Rio Tinto and BHP, whose June quarter output dropped because of weather disruptions in Western Australia.Despite those disruptions, surging prices of the steelmaking ingredient and robust demand from China are expected to drive bumper earnings at miners…

21 Jul 2021

Baltic Index Ticks Up on Capesize Gains

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The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, ticked up on Wednesday on gains in the capesize segment.The index, which factors in rates for capesize, panamax and supramax shipping vessels, added 5 points, or 0.2%, to 3,058.The capesize index rose 8 points, or 0.2%, to 3,513.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of iron ore, were up $64 at $29,135.The gains came even as benchmark…

09 Jul 2021

Baltic Dry Index Posts Fifth Straight Weekly Rise

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The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, posted gains for a fifth straight week on Friday as capesize rates strengthened.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 19 points, or 0.6%, to 3,300 and was up 0.5% for the week.The capesize index was up 86 points, or 2.4%, at 3,735, rising 6.4% since last week.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steelmaking ingredient iron ore, increased by $712 to $30,972.The panamax

26 Jul 2021

Baltic Index Gains on Capesize Vessel Demand

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The Baltic Exchange's main sea freight index rose for a fourth straight session on Monday, helped by higher demand for capesize vessels.The index, which factors in rates for capesize, panamax, and supramax shipping vessels carrying dry bulk commodities, rose 11 points, or 0.3%, to 3,210.The capesize index added 35 points, or nearly 1%, to 3,950, its highest since June 29.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of iron ore, jumped by $286 to $32…