Chinese commodity futures experienced a volatile week, with mixed openings and significant fluctuations in the Containerized Freight Index (Europe Service) futures. On Monday, the index opened 4% higher but soon dropped 1%, while iron ore fell by 0.7% to below 1,000 yuan per ton. Other commodities like nickel, zinc, tin, copper, and aluminum also saw varied changes, with INE crude oil futures also being affected. The following day, most commodity futures opened lower, with all Containerized Freight Index (Europe Service) futures contracts hitting a 20% limit-down and the futures were locked at this limit. By Wednesday, the index continued to fall, opening down 9%, with iron ore dropping for a five-day streak and steel rebar down 0.6%. However, on Thursday, the index saw a rebound, rising over 4% after a previous retreat from a historical high. The upward trend continued into Friday, with the index rising over 8% and INE crude oil increasing by 1.27%. The rally in China's shipping index futures was attributed to expectations of rising freight rates following air strikes against Houthi forces by the US and UK, with the most-traded Containerized Freight Index (Europe Service) contract in Shanghai surging up to 10% before settling to nearly 7% gains.
#China's #shipping index futures rally on expectation of rising freight rates after US, UK launched air strikes agst Houthi forces. The most-traded Containerized Freight Index (EuropeService) contract in Shanghai surged up to 10% before paring gains to nearly 7%.… https://t.co/TG9AaEXw5X
#China's shipping index futures rally on expectation on rising freight rates after US, UK launched air strikes agst Houthi forces. The most-traded Containerized Freight Index (EuropeService) contract in Shanghai surged up to 10% before paring gains to nearly 7%.… https://t.co/68r3pQ0l5I
⚡Most commodity futures open higher in #China on Friday. INE Containerized Freight Index (Europe Service) futures rose over 8%. INE Crude oil rises 1.27%. #Nickel +1.2%, #tin +0.2%. #Aluminum -0.2%, #zinc and #copper -0.1%. #IronOre drops 0.8%. https://t.co/0jnTzMfEjP
Container freight futures update … Up over 4% today! $ZIM $MAERSK $HLAG https://t.co/sSVTzUap2C
⚡Chinese commodity futures opened mixed on Thursday. Shanghai Containerized Freight Index (Europe Service) futures rise by over 4% after retreatment from the historical high. #Shipping #RedSea #Nickel +2%, #tin +0.75%, #copper +0.1%. #Aluminum and #zinc are flat. #IronOre… https://t.co/PXv6Tz1yL8
⚡Commodities futures open mixed in #China on Wednesday. Shanghai INE Containerized Freight Index (Europe Service) futures continue their falls, opening down 9%. #IronOre drops 1.5%, down in a five-day streak. #Steel rebars are down 0.6%. #Copper -0.5%, #tin -0.2%, #zinc -0.1%.… https://t.co/VhwZPNv7ke
#China's container #shipping index futures retreat for 3rd straight day, with most-traded Containerized Freight Index Futures (Europe Service) contract slumping by daily limit of 20%. https://t.co/haGgRmRP6L https://t.co/EbnTahKpT4
Containerized freight futures are currently locked at limit down , -20%… 🤷♂️ https://t.co/bwfE96XSpv
⚡Most Chinese commodity futures open down on Tuesday. All Containerized Freight Index (Europe Service) futures contracts falls by 20% to limit-downs. #China #Shipping #RedSea #Aluminum -0.8%, #zinc -0.7%, #tin -0.5%, #copper -0.1%. #NIckel +0.4%. #IronOre drops by 0.15%, steel… https://t.co/dh0Ou3w0IA
⚡Chinese commodity futures opened mixed on Monday. Containerized Freight Index (Europe Service) futures opened 4% higher but soon dropped 1%. #IronOre drops by 0.7% to below 1,000 yuan per ton. #Nickel +0.8%, #zinc flat. #Tin -1.36%, #copper -0.4%, #aluminum -0.3%. INE crude oil…