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Monthly archives: September 2020
Iron Ore Offshore Oct 20 Morning Technical Comment – 240 Min Chart (rolling contract)
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Daily Agri – Freight Report
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DCE falls over slow steel demand
Iron ore futures continued the downward trend on lower than expected steel demand and falling steel prices. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dropped further by 2.71% day-on-day to RMB 790 per tonne on Thursday. The steel rebar contract on the Shanghai Futures Exchange however stayed more flattish …
Capesize rates dip for correction phrase
Capesize freight rates took a correction after recent rally as trade participants waited for clearer market directions. The Capesize 5 time charter average dropped by $278 day-on-day to $15,664 on Wednesday, due to a slip in the physical market. The Baltic Dry Index (BDI) then dipped slightly by 0.62% or 8 points day-on-day to 1,281 …
Fertilizer Financial Markets Commentary/Curves
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Freight Intraday Morning Technical
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Steel & Scrap Morning Report
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Iron Ore DCE January Daily Technical Review Sep 17th
Verdict – Short-term bearish. DCE iron corrected in narrower range during the day, intra-day low was supported by 783.5, 60 day moving average. Breaking down 777.5- 783.5 area would suggest iron ore entering a long-run bearish market. Otherwise iron ore follow a cyclely correction in weekly level. Iron ore did not test high at all …
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Morning Oil Report
Good morning, Brent crude futures fell 36 cents or 0.8% to $41.86 per barrel, and the WTI benchmark fell 43 cents or 1.1% to $39.73 per barrel after both climbed 4% over Wednesday. EIA data welcomed a much needed draw in crude stocks by 4.4 million barrels which could be the reason for …