Monthly archives: October 2020

Capesize rates rebound on improving sentiment

Capesize freight rates flattened out and rebounded from previous slump with much improvement in the paper and physical markets. The Capesize 5 time charter average rebounded slightly by $30 day-on-day to $17,151 on Wednesday, due to plenty of buying interests that pushed up rates. The Baltic Dry Index (BDI) then was almost flattish and dipped …

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Morning Oil Report 22/10/20

Brent crude futures retreated 22 cents, or 0.5%, to $41.51 a barrel at 0328 GMT after sliding 3.3% on Wednesday. WTI crude futures fell 26 cents, or 0.7%, to $39.77 a barrel, after dropping 4% on Wednesday. The falling prices could be attributed to the worse than expected data from the EIA on Wednesday, with …

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Iron Ore DCE January Daily Technical Review Oct 22nd

Verdict – Short-term neutral to bearish. DCE iron ore tested pressure on 805.5 and corrected. Iron ore had tested 803.5-805.5 area for three times from Oct 14th in hourly chart. The iron ore also gradually created strong support in 785.0 area since most of hourly candles have support in this level from Oct 19th. However …

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Daily Ferrous Physical Review Oct 22nd

Ferrous Market –    Ganggu Construction Steel Inventory: production 5.32 million tonnes, down 98,800 tonnes w-o-w. Mills inventory 4.34 million tonnes, down 215,800 tonnes w-o-w. Circulation inventory 10.07 million tonnes, down 552,800 tonnes w-o-w. –    MySteel Rebar Inventory: production 3.59 million tonnes, down 0.21% w-o-w. Mills inventory 3.28 million tonnes , down 3.06% w-o-w. Circulation inventory …

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European Close 21-20-20

Iron ore flows are strong, suggesting we are looking at an upside countertrend move, unless we see more construction projects announced in China or a stimulus deal agreed in the U.S.     We noted that after the last podium performance with Trump and Biden this seemed unlikely. Today Nancy Pelosi announced she was hopeful …

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