Monthly archives: December 2020

DCE stays above $1,000/mt on good restocking activities

Iron ore futures continued to hover above the $1,000/mt mark, following a rally in the afternoon session. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) went up further by 2.60% day-on-day or RMB 26 to RMB 1,026.50/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange, followed the rally …

Continue reading “DCE stays above $1,000/mt on good restocking activities”

Capesize rates rise despite mixed market outlook

Capesize freight rates hiked up, despite mixed market outlook with an improving Atlantic market, while limited shipping activities were observed in the Pacific. The Capesize 5 time charter average then went up by $698 day-on-day to $13,826 on Wednesday, as the physical continued to show further gains, though it was expected to slow toward year-end …

Continue reading “Capesize rates rise despite mixed market outlook”

Morning Oil Report 17/12/20

Brent crude futures rose 45 cents, or 0.9%, to $51.53 a barrel at 0436 GMT. Oil then pushed to 9-month highs reaching $51.83 at 0720GMT, while U.S. West Texas Intermediate (WTI) crude futures rose by 46 cents, or nearly 1%, to $48.28 a barrel. Both benchmarks hit their highest since early March.   US crude …

Continue reading “Morning Oil Report 17/12/20”

Daily Ferrous Physical Review 17/12/20

Ferrous Market –    Ganggu Construction Steel Inventory: production 5.27 million tonnes, down 19,300 tonnes w-o-w. Mills inventory 4.41 million tonnes, up 247,600 tonnes w-o-w. Circulation inventory 5.67 million tonnes, down 289,700 tonnes w-o-w.-    MySteel import sintered iron ore inventories reached 17.38 million tonnes. Import iron ore turnover in 27 days.-    MySteel Rebar Inventory: Rebar production …

Continue reading “Daily Ferrous Physical Review 17/12/20”

Iron Ore DCE May Daily Technical Review 17/12/20

Verdict – Short-term neutral to bullish, be aware of reversal on high area. DCE iron ore rebounded with higher lows and highs, approaching historic high again. Hourly MACD was flat. Hourly slow stochastic KD is widening beyond overbought area. CCI created high from Dec 11th. Iron ore spike caused the open interest decreased 34% from …

Continue reading “Iron Ore DCE May Daily Technical Review 17/12/20”