Monthly archives: August 2020

Morning Oil Report 26/8/20

Good morning all. Brent rose 12 cents, or 0.3%, to $45.98 a barrel by 3:35 am GMT, while WTI remained steady at $43.35 a barrel.   The back-to-back tropical storms Marco and Laura has seen upstream operators shut about 1.558 million b/d of oil, or 84.3% of offshore production, by August 25, according to latest …

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Daily Ferrous Physical Review Aug 26th

Ferrous Market –    Ganggu Construction Steel Inventory: production 1.92 million tonnes, up 2.73% w-o-w. Mills inventory 2.96 million tonnes, down 8.40% w-o-w. Circulation inventory 5.38 million tonnes, down 5.52% w-o-w. –    MySteel 45 port previous week iron ore arrived 24.99 million tonnes, down 1.58 million tonnes w-o-w. Northern six ports arrivals at 13.78 million tonnes, …

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DCE dips on cautious trading

Iron ore futures softened for the second consecutive trading day as trade participants become more cautious after the rally seen last week. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dropped by 1.83% or RMB 15.50 day-on-day to RMB 832.50 per tonne on Monday. However, the steel rebar contract …

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Capesize rates rebound on better iron ore and coal demand

Capesize freight rates rebounded on firmer note due to good momentum from the Pacific market. The Capesize 5 time charter average went up by $387 day-on-day to $18,305 on Monday, due to good run for September contracts that nearly touched $22,000. Despite the positivity surrounding Capesize, the Baltic Dry Index (BDI) rose slightly by 0.68 …

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