Monthly archives: November 2020

Morning Oil Report 25/11/20

Brent crude was up 38 cents, or 0.8%, at $48.24 a barrel by 0616 GMT, having risen almost 4% in the previous session. WTI crude gained 27 cents, or 0.6%, to $45.18, after rising more than 4% on Tuesday. Levels are at the highest since March, where we entered 2020, in an already oversupplied oil …

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Iron Ore DCE January Daily Technical Review Nov 25th

Verdict – Short-term neutral. DCE iron ore Jan contract tested high two times during the trading day, however resisted by 892.0, which was 2 yuan from previous high. The two pick up both gave back all gains within half hour, indicating some short-run money speculating. Be aware of rebar jan, which had corrected three days by …

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Daily FerrousPhysical Review Nov25th

Ferrous Market – MySteel Australia and Brazil iron ore total delivery at 23.71 million tonnes, down 2.18 million tonnes w-o-w. Australia iron ore delivery 16.68 million tonnes, down 1.67 million tonnes w-o-w. Australia delivery to China 13.95 million tonnes, down 864,000 tonnes w-o-w. Brazil iron ore delivery 7.03 million tonnes, down 506,000 tonnes w-o-w. – Tangshan 32 mills daily production impacted by maintance …

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European Close 24/11/20

The December Iron ore futures had a bit of a rebound overnight with price closing 1.09% higher. The rebound has been attributed to lower Brazil shipments and Bloomberg intelligence stating that price will likely stay strong before year end, as steel output remains at high levels. Steel margins remain solid and unchanged at CNY 300 …

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