FIS API Blog
Chinese futures jumped for the fifth consecutive trading day on anticipation of further infrastructure stimulus introduced during the National’s People Congress. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked further by 3.64% day-on-day to RMB 711 per tonne on Tuesday. Similarly, the steel rebar contract on …
Continue reading “DCE jumps for the fifth day on stimulus expectation”
Capesize market continued its positive run with more fixings and stronger Pacific market that drove better freight rates. As such, the Capesize 5 time charter average rose by $481 to $2,875 on Monday, as some trade participants were heard to do “bottom picking” after another round of short covering. Driven by better Capesize rates, the …
Continue reading “Capesize extends positive run on better bunker prices”
Oil production from the top seven shale regions in the U.S. is set to tumble to levels not seen since 2018 as drillers scale back in response to the recent price collapse, the Energy Information Administration said. Crude output from seven major shale formations expected to fall by a record 197,000 barrels per day in …
Continue reading “Shale production tumbles as VLCC armada heads east”
Ferrous Sector Money Flow: DCE iron ore aggregated open interest is up 38.97% from April 29th and reached the highest level in Q2, coking coal decreased by 18.55% during the same period. Steel, coke and flat glass used in house construction remained stable on open interest. Investors should be aware of money flow out of …
Continue reading “China construction in the bubble, iron ore demand risk remains”
Australian exports of wine, seafood, oatmeal, fruit and dairy are in danger of being targeted by China if Beijing decides to escalate a row over Canberra’s calls for an investigation into the origin of Covid-19, according to people familiar with the matter Chinese officials have compiled a list of potential goods that it could target …
Continue reading “China Mulls Targeting Australian Wine, Dairy on Coronavirus Spat”
Oil’s historic crash below zero looked increasingly like an aberration as the June contract rose for a fourth day in its last session of trading before expiring. Amid growing signs of a nascent recovery in demand, deepening production cuts and optimism that the world is getting closer to finding a vaccine for the coronavirus, futures …
Continue reading “Repeat of Oil’s Sub-Zero Plunge Unlikely as June Expiry Nears”
Iron ore futures extended gains for a third day to reach the highest since January as investors weigh strong domestic demand in China and supply worries from Brazil. The recovery in the production from steel mills in China is boosting sentiment, while iron ore port stockpiles declined to the lowest in more than three years …
Continue reading “Iron Climbs as Traders Eye Steel Demand, Supply Fears”
