Monthly archives: August 2020

Oil Through the Looking Glass 19/8/20

*US 0.5% Under Pressure American low sulphur fuel oil is under pressure as the retail and exports markets continue to remain poor, leaving few places to send 0.5% supplies. The drop in crude prices had previously pulled down prices, yet rising Brent prices again have not pulled up 0.5% alongside it. Brent has moved up …

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Capesize dips despite fixtures uptick

Capesize rates slipped on low volumes despite a flurry of physical fixture done over the key Brazil to China route. Thus, the Capesize 5 time charter average went down by $207 day-on-day to $19,693 on Tuesday, after the paper market failed to move into positive territory from increase of miner’s fixtures. Then, the Baltic Dry …

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DCE continues to rise ahead of peak demand period

Iron ore futures rose for the third consecutive days since start of the week due to robust Chinese steel demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange hiked up by 0.88% or RMB 7.50 day-on-day to RMB 857 per tonne on Wednesday. However, the steel rebar contract on the …

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Tanker News Update 19/8/20

*Pirates of the Middle Eastern Gulf   The United Nations Convention for the Law of the Sea (UNCLOS) defines piracy as:   (a) any illegal acts of violence or detention, or any act of depredation, committed for private ends by the crew or the passengers of a private ship or a private aircraft, and directed- …

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Ferts in Focus 19/8/20

India’s RCF fares better than expectations The past week saw volume and prices confirmed into India’s most recent urea purchasing tender, with 958kmt of awards accepted at levels of $289/t cfr WC and $290.50 cfr EC. The volume was higher than most were expecting, with the Chinese participating in large volume (around 400kmt estimated to …

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Morning Oil Report 19/8/20

Brent futures fell 33 cents, or 0.7%, to $45.13 a barrel by 4:18 am GMT, while West Texas Intermediate futures were down 21 cents, or 0.5%, at $42.68 a barrel.   The continued spread of COVID-19 worldwide remains the key drag on the short-term demand outlook. Global COVID-19 infections exceeded 22 million case counts while …

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Iron Ore DCE January Daily Technical Review Aug 19th

Verdict – Short-term neutral. DCE iron ore slightly corrected during the day. From hourly chart, CCI created bearish divergence with candles during last night. Slow stochastic KD created dead cross on overbought area at the same time. MACD potential create dead cross in next few hours. If a breakdown on 850.0, the next target is …

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Daily Ferrous Physical Review Aug 19th

Ferrous Market –    Iron ore 45 port arrivals at 26.57 million tonnes, up 983,000 tonnes w-o-w. Northern six port arrivals at 13.30 million tonnes, up 1.96 million tonnes w-o-w. –    MySteel Australia and Brazil iron ore total delivery at 25.64 million tonnes, up 1.587 million  tonnes. Australia iron ore delivery 17.97 million tonnes, up 1.53 …

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