*RCF receives near record volume of offers* India’s latest purchasing tender through RCF closed on Friday, receiving offers totalling 3.63mn tonnes from 16 companies. Price details were released by RCF Wednesday morning with L1 offers confirmed at $279.25 cfr east coast and $279.94 cfr west coast India, reflecting netbacks to the low-mid $260s fob China …
Monthly archives: October 2020
Daily Agri – Freight Report 14/10/20
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Freight Intraday Morning Technical 14/10/20
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DCE dips from higher supplies and lower steel output
Iron ore futures opened high before dropping at the closing due to high port inventory and lower steel production. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange ended the afternoon session down by 2.38% day-on-day to a two-week low of RMB 798.50 per tonne on Wednesday. The steel rebar contract …
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Capesize rates retreat on mixed market outlook
Capesize freight rates continued to be under pressure, following the thin activities in the physical market. The Capesize 5 time charter average dropped by $1,836 day-on-day to $25,497 on Tuesday, despite some market talks of another rally in Q4 as miners accelerated their ore exports by year-end. Due to the declining freight rates, the Baltic …
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Fertilizer Report
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Steel & Scrap Morning Report 14/10/20
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Morning Oil Report 14/10/20
Brent crude futures for December fell by 12 cents, or 0.3%, to $42.33 a barrel by 0455BST while U.S. WTI futures were down 11 cents, or 0.3%, to $40.09. Early morning interest this morning sees selling on high sulfur and buying on low sulfur, with the European and Singapore FoGos strengthening yesterday but some cooling …
Iron Ore DCE January Daily Technical Review Oct 14th
Verdict – Short-term bearish. DCE iron ore keep correction and testing 809.0 area, which was a strong support in last two months. The breakdown on this support indicate iron ore potentially test 783.5 and return to bearish in mid-run. From hourly chart, however KD is flattening. CCI is also potential to create a bullish divergence. …
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Daily Ferrous Physical Review Oct 14th
Ferrous Market – Vale port at Malaysia PDM III North and PDM IV South maintenance expected delivery impact arround 518,000 tonnes. – MySteel Australia and Brazil delivery last week down 1.35 million tonnes. Australia delivery 18.58 million tonnes, down 223,000 tonnes. Australia delivery to China 15.95 milllion tonnes, up 161,000 tonnes w-o-w. Brazil delivery 6.88 …