Monthly archives: June 2020
Capesize July 20 Morning Technical Comment – 240 Min
Capesize rates firm up in both basins
Capesize rates continued to rally as shipping demand improved in both the Pacific and Atlantic basins. Therefore, the Capesize 5 time charter average increased by $1,734 day-on-day to $12,410 on Friday, after strong afternoon session that pushed out of the tight trading seen in the morning session. This prompted the Baltic Dry Index to push …
Panamax July 20 Morning Technical Comment – 240 Min
Oil benchmarks fall on virus resurgence fears
Oil benchmarks fell about 8% last week, their first weekly declines since April, as U.S. Coronavirus cases started increasing. Over the weekend, more than 25,000 new U.S. cases were reported on Saturday alone as more states reported record new infections and hospitalizations. A cluster of infections in Beijing has increased concern of a …
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Oil Through the Looking Glass 15/6/20
Continuation of the Crude Slump The week losses have extended into the new week as new virus infections hit China, Japan and the United States. This raises concerns of people in the market on the return of normal demand that had previously raised sentiment at the easing of lockdown. In the US the cutting of …
Iron Ore Offshore July 20 Morning Technical Comment – 240 Min Chart
Iron Ore—RSI Divergence in Play
Iron Ore DCE September Daily Technical Review Jun 15th(Hourly Chart from May 18th to Jun 15th)
Verdict – Short-term neutral to bearish. DCE iron ore corrected after Friday push to five day high. The test low was supported by 756.5. 753.0 area from hourly chart supported price reversal twice over last week. A breakdown on 746.5- 753.0 area will drive iron ore price to test 20 day moving average. The breakdown …
FIS Daily Physical Review Jun 15th
Iron Ore and Steel Market Updates – Steelbank: construction steel inventories 6.95 million tonnes, down 1.87% w-o-w. HRC inventories 1.99 million tonnes, down 4.71% w-o-w. – China Statistic Bureau: crude steel output in May rose 4.2% y-o-y. Jan-May steel output rose 1.9% y-o-y. Pig iron output in May rose 2.4% y-o-y. Jan-May pig iron rose …