Monthly archives: July 2020
Fuel Oil Daily Evening Report
Iron ore futures sink as stockpiles rise
Iron ore futures sank to 106 in London on Friday as stockpiles in China expanded yet again. Inventory at ports rose by 2.78 million tonnes on week to 113.25 million tonnes, according to Mysteel data. Material from both Australia and Brazil climbed, with the latter gaining more than 5%. This was further exacerbated by the …
Steel & Scrap Morning Report
No big surprise as Australian ores dominate trades
It was typical week which Australian iron ores accounted most of the trade transactions that totaled to 2.5 million mt, up 18.86% week-on-week. Over half or 57.09% of iron ore transaction belonged to the Australian Pilbara Blend Fines (PBF) at 1.43 million mt, then followed by Jimblebar fines at 8.20% or 205,000 mt. Finally, the …
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Freight Intraday Morning Technical
Capesize rate plunges below $20,000 level on soft shipping demand
Capesize rates came under the $20,000 level and quick fashion after softening demand in both the Pacific and Atlantic markets. As such, the Capesize 5 time charter average plunged further by $1,578 day-on-day to $18,542 on Thursday. Following the tumble, the Baltic Dry Index (BDI) dropped by 5.77% day-on-day to 1,388 readings, reflecting the weakness …
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FIS Fuel Oil Morning Report 24/07/2020
Brent futures rose 21 cents, or 0.5%, to $43.52 a barrel by 4:46 am GMT, while WTI futures rose by 12 cents, or 0.3%, to $41.19. US Labor Department data released on July 23 showed weekly unemployment claims rising by 109,000 to 1.4 million in the week ended July 18, higher than the market …
DCE slips on weekly drop in steel demand
Iron ore futures ended the week in correction as steel demand softened on lower downstream consumption. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange dropped by 2.13% or RMB 18 day-on-day to RMB 827.50 per tonne on Friday. Likewise, the steel rebar contract on the Shanghai Futures Exchange also dipped by …
Ship Shape – Global Boom or Global Bust?
The Battle of Marathon, the Sacking of Rome, Einstein developing his theory of General Relativity, the Great Depression, The Second World War, the birth of John B, the launch of the PlayStation 2. All are seismic events that have forged and influenced human history. These and so many other events had a profound effect on …