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Monthly archives: October 2020
European close
Golden week is over and for iron ore it means the bulls are back in town. Headlines on Bloomberg noted that combined exports from Port Hedland and Brazil are the highest ever, whilst steel inventories which normally see a 15% to 20% decline in Q3 have seen an increase of 3%. However, an Analyst at …
Oil Through the Looking Glass 9/10/20
*More Than 90% Of Gulf Oil Offline as LNG Plants, Refineries Prep for Hurricane* More than 90% of the US Gulf Coast oil crude production went offline in expectation of Storm Delta this weekend which is due to strike the region imminently today. The storm is aiming for the same region that Hurricane Laura targeted …
Daily Agri – Freight Report 9/10/20
Freight Intraday Morning Technical 8/10/20
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DCE rises with the return of Chinese trade participants
Iron ore futures jumped with the return of Chinese trade participants from the holidays and good economic indicators in China. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange then surged by 4.80% day-on-day to RMB 830 per tonne on Friday. The steel rebar contract on the Shanghai Futures Exchange then …
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Capesize rates ease on weak physical market
Capesize freight rates continued its downtrend as the physical market came under pressure with further easing of rates. Thus, the Capesize 5 time charter average fell by $1,958 day-on-day to $31,507 on Thursday, with a sluggish Atlantic market and Pacific rates moving Due to weak Capesize market, the Baltic Dry Index (BDI) fell by 3.62% …
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Steel & Scrap Morning Report 8/10/20
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Oil and Ore Intraday Morning Technical 8/10/20
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Morning Oil Report 9/10/20
Brent was down by 8 cents at $43.26 a barrel by 0740 GMT, WTI crude fell 5 cents at $41.14 after both benchmarks gained more than 3% on Thursday. Both contracts are on course for a 10% gain this week after the news broke that the strikes in the Norwegian oil fields could signify a …