FIS API Blog
Capesize rates continued the bullish run over Brazilian supply concerns, while high construction activities in China support iron ore demand. As such, the Capesize 5 time charter average jumped by $438 day-on-day to $7,745 on Monday, after more European players entered the market and pushed up rates. The Baltic Dry Index (BDI) followed the rally …
Continue reading “Capesize rides along with the iron ore bull run”
Easing of Lockdown Bounce Prices have been rising on Brent as hopes that the global recovery post covid-19 will be swift, bringing normal levels of demand back to the battered market. Prices on front month futures have pushed above the $40 level and even Goldman Sachs has raised its oil price forecasts to a $40.40 …
Consensus The consensus in the financial sector is that iron ore prices are looking overstretched. Almost daily we hear that supply will increase and demand will decrease in the second half of the year. If this is the case, then surely with over 100 million tons of inventory the upside is not limited, it is …
Chinese futures retreated slightly today after a recent rally that supported by possible supply concerns in Brazil. As such, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, dropped by 1.03% day-on-day to RMB 769.50 per tonne on Tuesday. Following the decline, the steel rebar contract on the Shanghai …
Continue reading “DCE retreats from more Australian exports”
Saudi Arabia’s extra voluntary oil-production cut, which came on top of the OPEC+ supply curbs, will cease at the end of this month as demand recovers. Energy Minister Prince Abdulaziz bin Salman said the kingdom’s additional reductions, which amounted to about 1.2 million barrels a day including contributions from its closest allies in the …
Continue reading “#moreforless – the new shape of OPEC+ supply policy?”
