Monthly archives: January 2021

Daily DCE Review 29/1/21

Iron ore futures moved flattish throughout the trading day and closed lower at the close, due to market concerns over high steel stockpiles. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then fell by 2.03% day-on-day or RMB 20.50 to RMB 990/mt on Friday. The steel rebar contract on the Shanghai …

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Daily Capesize Review 28/1/21

Capesize freight rates slid further on weakening physical market, due to low shipping demand and bearish market outlook. The Capesize 5 time charter average then dropped further by $1,657 day-on-day to $16,133 on Thursday, following a short sharp selloff in the paper market. The Baltic Dry Index (BDI) also went down further by 4.55 % …

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Fuel Oil Morning Report 29/1/21

Brent crude futures for March rose 4 cents, or 0.1%, to $55.57 a barrel at 0520 GMT, after falling 0.5% in the previous session. The Brent March contract expires on Friday. The more active April contract rose 13 cents, or 0.2%, to $55.23. U.S. West Texas Intermediate (WTI) crude futures slipped 7 cents to $52.27 …

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Iron Ore DCE May Daily Technical Review 29/1/21

Verdict – Short-term neutral to bearish.   DCE iron ore closed similar with last closing, however market volume and interest decreased. Hourly MACD was narrowing below 0 axis. Hourly slow stochastic KD created gold cross above oversold area. Short-run technical signals were indicating the previous correction was slowing.   The first support is 959.0. The …

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Ferrous Daily Physical Review 29/1/21

Ferrous Market –    MySteel 45 ports iron ore inventories at 125.01 million tonnes, up 625,100 tonnes w-o-w. Daily evacuation 3.04 million tonnes, down 146,900 tonnes w-o-w. Australia iron ore 58.26 million tonnes, up 705,000 tonnes w-o-w. Brazil iron ore 43.71 million tonnes, up 109,200 tonnes w-o-w. 201 ships at ports, up 23. –    MySteel 14 …

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