FIS API Blog
Soybean futures in Chicago advanced as the dollar extended declines and President Donald Trump stopped short of spelling out tough new sanctions against China over Hong Kong and kept the phase one trade deal with Beijing intact. Corn increased, while wheat snapped two days of gains. The Bloomberg Dollar Spot Index tumbled to the weakest in …
Continue reading “Soybeans Climb as Dollar Drops and Trump Keeps Trade Deal Intact”
Iron ore’s surge, with its latest jump to three-digits, is set to persist in the short term powered by supply concerns, before a market surplus in the second half spells a decline for the steelmaking material. Physical spot ore surged to $101.05 a ton on Friday, the highest since August, according to Mysteel Global. Elevated steel …
Continue reading “Iron Ore Seen Gripping On to Surge Before Eventual Descent”
When China sneeze, the world catches cold, as the saying goes. However, if China economy recovers, how will the global market react? Once again, there were signs of recovery for the country’s economic after it was heavily embattled by the coronavirus pandemic earlier this year. In May, both the official and private Purchasing Manufacturing Index …
Continue reading “China’s speedy recovery boosts PMIs in May”
Iron Ore and Steel Market Updates – Tangshan brought out new air pollution restriction in June, will potentially affect 35,000 tonnes of pig iron production, equal to 12% lower on blast furnace utilisation rate in Tangshan. – Steelbank Inventory: rebar inventories 7.49 million tonnes, down 4.24% w-o-w. HRC 2.21 million tonnes, down 6.93% w-o-w. – …
