Iron Ore and Steel Market Updates – Japan JFE steel will settle the subsidiary Nippon EGalv Steel in Malaysia after a financial loss. The mill will stop operation in this June. – Baffinland Iron Mines will keep operating at 6 million tonnes mtpa before the end of 2021. Indian Sponge Iron Manufacturers Association appealed to …
Monthly archives: May 2020
FIS Weekly Ferrous Report 26052020
Iron ore futures fall as higher shipments ease supply fears
Iron ore futures were softer on Tuesday as data showing higher shipments from Australia and Brazil eased off supply concerns. According to data by Mysteel, shipments from Australia and Brazil were up by 4.08 million tonnes from a week earlier to 26.03 million tonnes. Furthermore, port overhauls in Australia and Brazil was completed on …
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Capesize bull run takes a breather
Capesize market slowed after the recent rally in shipping rates, as trade sources seek for clearer market direction ahead. As such, the Capesize 5 time charter average slid slightly by $56 to $4,140 on Friday, as the market approached the long weekend. There was a prompt selloff of June contracts earlier in trading session, before …
DCE slides as participants seek clearer direction
Chinese futures continued the downward slope since the start of the week, as market participants waited for clearer market directions. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, dropped by 2.99% day-on-day to RMB 698.50 per tonne on Monday. Similarly, the steel rebar contract on the Shanghai Futures …
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Crude buoyed by Russia cuts, gasoil spreads flat
The crude market was buoyed by comments from Russia reporting its oil output had nearly dropped to its target of 8.5 million barrels per day (bpd) for May and June under its supply cut deal with OPEC. After a bank holiday yesterday and quiet trading, counterparties have come into the market this morning with …
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High volatility expected, but iron ore risks reversal
Ferrous Sector Money-flow: DCE iron ore started to soften after open interest reached a yearly-high, indicating previous longs are taking gains. Coke became the leader of ferrous sector during previous week and early this week. DCE September iron ore total contract value was 65 billion Yuan, the peak in 2019 was 75 billion yuan. However, …
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Panamax June 20 Morning Technical Comment – 240 Min
Brent July 20 Morning Technical Comment – 240 Min
Slight gains for DCE as market wait for clearer directions from Two Sessions
Chinese futures ended the week on slight gains as trade participants waited for further market direction from China’s Two Sessions. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, gained slightly by 0.77% day-on-day to RMB 716.50 per tonne on Friday. On the contrary, the steel rebar contract on …
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