Baltic Sea Freight Index 12.7% Decline for June, First Monthly Drop Since January

The Baltic Exchange’s dry bulk sea freight index rose 54 points, or nearly 2.5% to 2,240 points on the last day of June but still slid 12.7% for the month and fell 5% for the quarter. The BDI pressure came again from falling rates across smaller vessel segments. The capesize index fell 8.8% for the month but had a 38.3% quarterly gain. The panamax index was down for three consecutive months dropped 13.5% in June and down 20.9% for the … Continue reading “Baltic Sea Freight Index 12.7% Decline for June, First Monthly Drop Since January”

Baltic Sea Freight Index Fell Another 9.6% This Week as the Capesize index plunged 19.8%

The Baltic Exchange’s dry bulk sea freight index slid another 9.6% this week. Iron ore prices did edge higher after a record 10-session slide, however fell for the week with the Singapore benchmark down on renewed concerns over demand in China with fresh COVID-19 alerts and shut-ins. The BDI pressure came again from falling rates across smaller vessel segments. The capesize index plunged 19.8% this week, its worst drop since May 27. The panamax index was down 5.8% for the … Continue reading “Baltic Sea Freight Index Fell Another 9.6% This Week as the Capesize index plunged 19.8%”

The Australian ASX 200 Stock Market Closed Up 13% in 2021 With Lithium Plays Starring

Australian Blue Chip ASX 200 ended the ASX finished 2021 at 7,779.20 up over 13% for the year. This compares to a loss of just over 1% in 2020 and a gain of over 20% in 2019. All of the 11 main sectors of the share market were higher except information technology and energy in 2021. Tech went from being the best-performing sector in 2020 to the worst in 2021. Battery materials supplier Novonix was the top stock up 660 … Continue reading “The Australian ASX 200 Stock Market Closed Up 13% in 2021 With Lithium Plays Starring”

Iron Ore Prices Rise Pre-emptively on Easing Along China’s Property Curve

Iron ore had the bears out in full force just a month or so ago, with the China attempt to “destroy Australia”, the shipping crisis and more. Analysts were anticipating demand for iron ore to collapse as China reduced its steel production. Targets were lowered to US$65 to $85 a tonne by many of the larger groups.  Here we are the most actively traded iron ore futures on the Dalian Commodity Exchange for May delivery closed 3.9% higher at 714 … Continue reading “Iron Ore Prices Rise Pre-emptively on Easing Along China’s Property Curve”

Fitch Expects Asia LNG, US Henry Hub Natural Gas, Tin and Lithium to Average Higher in 2022

Fitch Solutions In its latest industry report expects Asia LNG, US Henry Hub natural gas, tin and lithium to average higher in 2022. Fitch expects most other global commodity prices to pull back in 2022 from current levels. Fitch Solutions expects strong prices in 2021 to incentivize production in 2022, in particular in agriculture. The energy crisis in Asia and Europe and the shift towards Electric vehicles puts a bid on related commodities for the most part. Fitch Solutions said developing … Continue reading “Fitch Expects Asia LNG, US Henry Hub Natural Gas, Tin and Lithium to Average Higher in 2022”

Chinese Dalian Iron Ore Futures Continue To Correct From Record Highs on Emissions

Dalian iron ore futures are down another 3% over continued concern over new emissions restrictions in the major steelmaking hub Tangshan Today’s move follows Friday’s sell off as investors optimism soured over Chinese demand. China is the world’s biggest steel producer.

Australian Trade Surplus Falls A Third as Gold Exports Slump 25%

The Sino US trade war maybe biting Australia after all. October’s trade surplus fell a third seasonally adjusted as gold and ore exports slumped. In September had Australia posted another much larger than expected trade surplus. Australia ships nearly a third of its exports to China, led by iron ore and coal.

Australia Defies Skeptics With Another Huge Trade Surplus Despite Trade War

Australia posted another much larger than expected trade surplus in September, what is clear the commodity powerhouse is benefiting from the U.S.- China trade war. Australia ships nearly a third of its exports to China, led by iron ore and coal as the Chinese boost construction spending to ward off damage caused by U.S tariffs.