Monthly archives: November 2020

Chinese construction activities catch up before winter

A total of 1.15 million mt of iron ores was traded for the week ended Nov 6, up 12.75% week-on-week as compared to the 1.02 million mt recorded last week. There were some catch-up operations among the Chinese construction firms right before the winter season, which resulted in more procurement. BRBF toppled PBF as the …

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Capesize rates fall on slow shipping activities

Capesize freight rates dropped on thin market activities amid bearish market sentiment in shipping demand. The Capesize 5 time charter average fell by RMB 514 day-on-day to $14,177 on Thursday, as low Atlantic fixtures weighted on prompt paper market. The Baltic Dry Index (BDI) then slipped by 2.45% or 30 points to 1,194 readings, due …

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DCE ends choppy week on gains

Iron ore futures had a choppy session and managed to book a gain at the close, despite market concerns over high port inventory. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 0.84% or RMB 6.50 day-on-day to RMB 789.50/mt on Friday. The steel rebar contract on the Shanghai …

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Morning Oil Report 6/11/20

WTI was down $1.06, or 2.7%, at $37.73 a barrel at 0538 GMT, after dropping 0.9% yesterday. Brent crude was off $1.05, or 2.6%, at $39.88, having fallen 0.7% in the previous session. The continuing falls seem to have exacerbated by the ongoing uncertainty in the US surrounding the presidential election, as well as the …

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Iron Ore DCE January Daily Technical Review Nov 6th

Verdict – Short-term neutral. DCE iron ore consolidate in narrow range for the third trading day during the week. Trading volume down 32% from yesterday. Short-run correction needs to breakdown 772.5. At the same time, a rebound needs a breakthrough with volume on 805.5 level. Hourly slow stochastic is potential to create dead cross below …

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Daily Ferrous Physical Review Nov 6th

Ferrous Market –    MySteel 45 ports iron ore inventories at 128.12 million tonnes, up 482,500 tonnes w-o-w. Daily evacuation 3.1986 million tonnes, up 68,000 tonnes w-o-w. Australia iron ore 60.72 million tonnes, up 418,000 tonnes w-o-w. Brazil iron ore 39.56 million tonnes, up 174,000 tonnes w-o-w. 133 ships at ports, down 16. –    Mysteel researched …

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