Monthly archives: June 2020
Brent August 20 Morning Technical Comment – 240 Min
Iron Ore DCE September Daily Technical Review Jun 5th(Hourly Chart from May 18th to Jun 5th)
Verdict – Short-term consolidation. DCE iron ore rebounded from DCE night session, however consolidated within narrow range from 743.0- 746.0 area in Asian hours. From hourly chart, multiple tops pattern has created and the low of candles broke down neckline on 738.0 area. Thus, iron ore is still in a correction tunnel, unless a breakthrough …
FIS Daily Physical Review Jun 5th
Iron Ore and Steel Market Updates – MySteel 45 ports iron ore inventory at 107.54 million tonnes, down 311, 500 tonnes w-o-w. Daily evacuation 3.14 million tonnes up 121,400 tonnes w-o-w. Australia iron ore on ports at 60.51 million tonnes down 499,800 tonnes w-o-w. Brazil iron ore on ports at 21.79 million tonnes down 147,700 …
Iron ore futures fall as players take profits
Iron ore futures slumped on Thursday following some profit-taking activities as market participants turned cautious. The iron ore market has seen great volatility, pushing towards $100 on supply concerns following disruptions in Brazil as well as strong demand from China. The Dalian Exchange issued a notice earlier this week, urging member brokerages to …
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Oil Through the Looking Glass
Doubts Over OPEC Cuts Crude prices have dropped this morning due to the less optimistic picture among the OPEC+ oil cartel than we had yesterday. Russia and Saudi Arabia may have agreed to support each other on an extension to the cut agreement, masquerading as an oil version of the resolution to the film Step …
Brent August 20 Morning Technical Comment – 240 Min
Supramax June 20 Morning Technical Comment – 240 Min
Capesize rates strengthen by better iron ore demand
Capesize market spiked further upward due to improving shipping fundamentals and higher iron ore demand. Due to the good physical market, the Capesize 5 time charter average rose by $1,054 day-on-day to $5,247 on Wednesday. In view of the strong Capesize market, the Baltic Dry Index (BDI) reached to a three-week high to 592 ratings, …
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