Monthly archives: November 2020

Morning Oil Report 27/11/20

Brent crude was down by 10 cents at $47.70 by 0602 GMT, having fallen 1.7% overnight. WTI was down by 86 cents, or 1.9%, at $44.85. U.S. crude prices did not settle on Thursday due to the Thanksgiving holiday.   Vaccine news dominated the headlines this week as AstraZeneca could have a vaccine that is …

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Iron Ore DCE January Daily Technical Review Nov 27th

Verdict – Short-term neutral. DCE iron ore Jan contract created historic high overnight and however lose most of the intra-day gains during the Asian day session. Jan long positions were rolling to May which caused a quick narrow on Jan-May. From hourly chart, MACD is narrowing. Slow stochastic KD created dead cross before noon. CCI …

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Daily FerrousPhysical Review Nov27th

Ferrous Market –    Mysteel 64 steel mills seaborne sintered iron ore inventory 17.64 million tonnes. Iron ore inventory turnover in 26 days. –    Mysteel steel mills import iron ore inventory 114.45 million tonnes, up 1.9 million tonnes w-o-w. Sintered iron ore daily consumption 3.04 million tonnes, up 29,400 tonnes w-o-w. –    MySteel 45 ports iron …

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European Close 26/11/20

BHP today reinforced expectations that the current strength in steel demand will extend into 2021. Earlier in the week it was a roundtable with Morgan Stanley and now UBS (Bloomberg). The reiterating of the message seems to be sinking in, with the December contract trading up to a new high of USD 127.64, whilst the …

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