Capesize market slowed after the recent rally in shipping rates, as trade sources seek for clearer market direction ahead.
Chinese futures ended the afternoon session in slight gain, as trade participants waited for further market directions.
Chinese futures suffered a dip on Monday, as market participants seek for market directions amid uncertainty.
Among the falling commodity market, the iron ore market only seemed to defy gravity and held on to high prices unlike others.
Capesize paper market was off to a slow start due to May Labour Day holiday with muted shipping activities.
Capesize paper market slid to downward trend on limited activities ahead of the May Labor holidays.
Capesize market drew support from more Brazilian and South African cargoes as miners tried to make up for the slow exports during the Q1 2020.
Chinese futures gained on Wednesday on better buying activities as the Chinese participants were more active in the market after long holidays.
Supramax April 20 Morning Technical Comment – 240 Min
Panamax May 20 Morning Technical Comment – 240 Min