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Monthly archives: December 2020
DCE dips on bad weather concerns
Iron ore futures continued correction phrase as the cold weather affected steel demand and logistics in China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) fell by 2.46% or RMB 25.50 on-day to RMB 1,010.50/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange also slid by 1.53% or …
Capesize rates soften on holidays season
Capesize freight rates softened on thin trading activities, as the shipping market slowed down on holidays season. There were also some market concerns on whether the bad weather off coastal China will result in port closures as it did in the past. As the Chinese meteorological authority issued orange alert on Monday, or the second …
Steel & Scrap Morning Report 29/12/20
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Oil and Ore Intraday Morning Technical
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FIS Weekly Ferrous Report 29/12/20
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Morning Oil Report 29/12/20
Brent crude climbed 23 cents, or 0.5%, to $51.09 a barrel, as of 0410 GMT and U.S. West Texas Intermediate (WTI) crude futures added 23 cents, or 0.5%, to $47.85 a barrel. Many participants of the oil market have noted the choppiness of the oil price as we head into the finale of 2020, …
DCE corrects on lower steel prices
Iron ore futures went down to correction phrase, after opening high in the morning session only to close lower at the afternoon session. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) dipped slightly by 0.73% or RMB 7.50 to RMB 1,025.50/mt on Monday. Similarly, the steel rebar contract on the Shanghai …
Capesize rates hike amid slow trading
Capesize freight rates managed to rise toward year-end, even though shipping demand slowed ahead of the holidays season. The Capesize 5 time charter average then hiked up by $224 day-on-day to $16,633 on Dec 24, despite slow trading day with only several trades being transacted in tight range. The Baltic Dry Index (BDI) was almost …
Iron Ore DCE May Daily Technical Review Dec 28th
Verdict – Short-term neutral to bearish. DCE iron ore retreated after rejection below important resistance at 1069.5 last Friday. Mid-run iron ore consolidate between 992.0-1069.5 area. However a breakdown on 990.5-992.0 area would indicate a potential reversal to bearish territory in long-run. Hourly CCI corrected from one week high to one week low during one …
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