FIS API Blog
Aluminum will average $1,600 a ton this year, according to Fitch Solutions, which cut its forecast from $1,850 as demand prospects weaken. Global consumption will decline 1.1% this year due to disruption from pandemic, especially closures of major car manufacturers, according to note Demand in China will fall 2% NOTE: LME aluminum last traded at $1,470/ton; YTD …
Continue reading “Fitch Solutions Cuts Aluminum Outlook Amid Risks for Metals”
Soybean futures climbed as life gradually returns to normal in China with more people dining out and more schools reopening, a trend set to increase demand for everything from meat to cooking oil in the top consumer. Soybean meal futures in Dalian headed for their best daily gain since March. Restarting schools and restaurants is …
Continue reading “Soybeans Advance on Brightening Prospects for Demand in China”
China’s house-price growth accelerated in April as the central bank’s credit easing gave the property market a much-needed lift out of the coronavirus shutdown. * New-home prices in 70 major cities, excluding state-subsidized housing, gained 0.42% in April, National Bureau of Statistics data released Monday showed. That’s up from a 0.13% increase in March. * …
Continue reading “China Home-Price Growth Accelerates in Property Market Boost”
Vessels carrying dry bulk commodities are struggling to make a profit because of the double hit of lower seasonal demand for cargoes and the Covid-19 pandemic that’s wrecking trade and industrial activity worldwide. “We’re really at the very bottom for dry bulk,” William Fairclough, managing director of Wah Kwong Maritime Transport Holdings Ltd., one of …
Continue reading “Bulk Shipping ‘At The Very Bottom’ as Carrier Earnings Plunge”
Iron ore futures head for the highest close in four months on supply concerns, as the number of coronavirus infections in major producer Brazil continues to soar. Brazil added more cases after a record number of infections Friday, overtaking Spain as the nation with the world’s fourth- highest number of confirmed Covid-19 patients. Brazil’s new …
Continue reading “Iron Jumps as Brazil Virus Cases Stoke Supply Concerns”
FIS Capesize Technical Report Technically bearish with limited downside as the index already has a USD 2k handle. Up USD 402 today would suggest the index is entering a countertrend move, however price that fails at or below USD 7,330 remains vulnerable to further tests to the downside. To view the full report please click …
Mining major, Rio Tinto’s first blockchain iron ore trade with Baosteel this week may set the trend for more such trades to come. The paperless trade transaction was done via the Contour trade finance blockchain platform, that breaks away from the traditional paperwork when documents were normally couriered for inspection. This ‘breakaway’ buried the image …
Continue reading “Who Says Elephants Can’t Dance: Rio Tinto’s first blockchain trade”
Capesize market seemed to dive to a new low with each passing days, prompting trade participants to think if the market has bottomed or another V-shape recovery is around the corner. Gone are the heydays of the boom days when spot cape was trading high toward $200,000 per day in the 2008 and instead the …
Chinese futures ended the week on high note, due to better buying interests over tightness in port inventory. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked by 3.33% on-day to RMB 668 per tonne at Friday. Following the rally, the steel rebar contract on the Shanghai Futures …
