Iron ore futures inched up higher on Wednesday, as market participants became more cautious amid mixed market outlooks. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange went up by 0.54% or RMB 4.50/mt day-on-day to RMB 837 a tonne. Following the upturn, the steel rebar contract on the Shanghai Futures Exchange …
Monthly archives: July 2020
Tanker News Update 15/7/20
*Could There be Another Storage Boom* As the independent teapot refineries in the Chinese Shandong region increase their run rate, storage is once again reaching its limit. This greater run rate, is in attempt to de-congest the multiple VLCC’s waiting to discharge in Chinese waters. Demand for refined product is slowly starting to come online, …
Ferts in Focus 15/07/20
India to tender again Thursday saw the announcement of India’s next urea purchasing tender. It was inevitable and widely expected, but the usual rigmarole in the lead up was spared and the announcement largely caught the market by surprise. The purchasing tender issued by MMTC is for an unspecified quantity of urea for shipment by …
Oil and Ore Intraday Morning Technical
Iron Ore DCE September Daily Technical Review Jul 15th
Verdict – Short-term neutral. DCE iron ore tested low over last night and recovered the loss during day session. Daily iron ore closed with a doji. Both high and lows are narrower than yesterday. The strong support is on 823.5 area, price reverse several times during this week. If iron ore breakthrough 845.0, it will …
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Fertilizer Financial Markets Commentary/Curves
Daily Ferrous Physical Review Jul 15th
Ferrous Market Updates – Ganggu Construction Steel Inventory: production 5.77 million tonnes, up 15,700 tonnes w-o-w. Mills inventory 5.05 million tonnes, down 354,300 tonnes w-o-w. Circulation inventory 11.13 million tonnes, up 207,000 tonnes w-o-w. – MySteel 45 port previous week iron ore arrived 23.45 million tonnes, down 656,000 tonnes w-o-w. Northern six ports arrivals at …
