China's most-traded domestic #copper futures contract, for Apr delivery, jumps above 70,000 yuan/tonne for the first time since Aug 2011.
The most-traded international copper futures contract hit a new record high of 62,920 yuan/tonne.

Iron ore is trading at $150-160 a ton on average, and is likely to rise above $193 this year, perhaps even to $200, if demand stays strong, Ge Xin, a senior analyst with Beijing Lange Steel Information Research Center, told the Global Times on Tuesday. https://www.hellenicshippingnews.com/steel-price-ma…-demand-surges/

Brazil’s Vale Bullish On Conditions In China   http://www.shippingherald.com/brazils-vale-b…tions-in-china/

Dana 24. veljače 2021. godine, održana je sjednica optužnog vijeća na kojoj je raspravljana optužnica o
podizanju koje je Društvo izvijestilo investicijsku javnost objavom od dana 17. kolovoza 2020. godine
(https://prev.zse.hr/userdocsimages…gFBJLQx3w==.pdf), te je odlučeno da se
uslijed određenih nedostataka optužnica vrati Državnom odvjetništvu na doradu. https://eho.zse.hr/fileadmin/issu…bc051ac07cc.pdf

Steel rebar continues to trade higher after Tangshan curbs output, whilst Vale SA has returned its suspended capacity
(Bloomberg). The production limit and the introduction of suspended capacity has resulted in a slight softening of the offshore
futures, with price dropping to USD 167.60 into the close. Onshore futures suffered a similar fate with the DCE closing the
evening session down RMB 17. Steel margins remain stable at RMB 200 suggesting that when the restrictions are lifted, we
could see a resumption in the upside trend. However, this could leave the futures a little vulnerable in the short term with
market longs maybe looking to take risk off a little until the curbs are lifted.
Another bearish day in the front end Capesize market, with the futures trading down to a low of USD 10,250. We noted yesterday that upside moves that failed to trade above the USD 11,533 level would leave the technical vulnerable to further weakness, suggesting we could test the support zone between USD 10,700—USD 10,450, which has been the case. The futures have
closed mid-range on the day, meaning tomorrows pivot point (balance point) will be at USD 10,750, however with the RSI in
bearish territory market buyers will probably need to see the futures above the USD 11,600 resistance to get momentum support. Downside moves on the open will find near-term support now at USD 9,945, below this level the futures will target USD
9,173. The index is now on a key support level at USD 12,191, if we go below this then we target the USD 11,492 support and
potentially the USD 10,304 low.
The Panamax index continues to grind lower (down USD 270 today to USD 19,149), however the technical footprint still leans
to this downside move being corrective, rather than bearish. If the futures are the lead indicator, we could see further losses
on the index in the coming days. Having held above the USD 17,217 level in the March the futures are now testing support, if
broken the futures will target the USD 14,625 level, which will become a key level of interest. Downside moves that hold this
level will mean we could have a bullish Gartley pattern in play (corrective A, B, C of Elliott wave) and would warn we could potentially see another bullish upside move. The futures have already been caught on a short squeeze that started on the 17th
and needs to position itself carefully to stop history repeating itself. Downside moves that trade much below this level would
put the technical in serious trouble.
A slowdown in the Supramax index has resulted in a weakening of the March futures. We have already highlighted that that
there was a negative divergence on the intraday technical, with the upside move not supported by the technical due to price
and momentum conflicting. This has led to the futures now entering an intraday corrective phase that looks like it could be
potentially the early stages of a wave 4. If we trade back above the USD 20,325 level, then the technical is seeing a wave 5 extension on a lower timeframe and should be considered as bullish.

Vale lifts emergency ban at key dam in Brazil. An important step in achieving 400m tons of annual run rate iron ore capacity until the end of 2022. Significant growth driver for capesize demand.

December corn is having an equally impressive run.

New-crop (Dec 21) corn futures have risen 3.6% so far this week, among the best 3-day streaks for the contract, including a new high on Wednesday of $4.77-1/2 per bushel.

SX/CZ is at 2.6 following Wednesday's session.

New-crop (Nov 21) beans have risen 3.5% so far this week, reaching a contract high of $12.40 per bushel on Wednesday. They are up 4.4% when including last Friday, the contract's second-best 4-day run ever.                                                                                                                                                                           

HSBC Holdings LLC, Europe’s biggest bank, on Wednesday said it raised its forecast for U.S. gross domestic product to 5.0% in 2021, from 3.5% previously, and its growth call for next year to 3.0% from 2.5%. https://www.hellenicshippingnews.com/hsbc-ups-u-s-g…ulus-prospects/

China says ready to enhance exchanges with U.S. on trade, economic front https://www.hellenicshippingnews.com/china-says-rea…economic-front/

Weekly Dry Time Charter Estimates, February 24 2021                                                                                  

Baltic Dry Index Falls 1.04% to 1,709 in London
Capesize -6.82% to $12,315
Panamax -1.39% to $19,149
Supramax 58k tons +4.5% to $20,046
Handysize +4.56% to $16,350

Nakon dugo dugo vremena supramax 20000

BMTI Handy Bulk Market Update (24 Feb 2021) https://www.bmti-report.com/bmti-handy-bul…te-24-feb-2021/

Handysize bulk carriers have traded up for 30 days straight, something not seen in any bulk segment since the supercycle days of 2003 to 2008. “It’s not just handies, as panamaxes are flying as well in recent weeks” https://splash247.com/handies-up-for-30-consecutive-days/

The coming supercycle? https://splash247.com/splash-extra-the-coming-supercycle/ Plenty of indicators are flashing green. Are we at the start of a commodities bull-run, and by extension a boom for shipping? https://splash247.com/supercycle-clickbait-or-reality/

Quote from havi

Quote from 5. Element

Danas opet silovit rast svih osim kejpova.

A i to ce uskoro.

Strpljen spasen

supramax opet dobro potegnuo https://en.sse.net.cn/indices/fdinew2.jsp

Handysizes may see second-best market 'since Vikings' https://www.tradewindsnews.com/bulkers/handys…ings/2-1-968786

Snažan rast Belships ASA - Report 4th quarter 2020 https://www.globenewswire.com/news-release/2…arter-2020.html https://ml-eu.globenewswire.com/Resource/Downl…b9-da1d94d4b781 https://ml-eu.globenewswire.com/Resource/Downl…d5-5d6c511d28eb

Pmax19419

MTD-16307

YTD- 14514

Smax19183

MTD-14080

YTD- 12965