Iron Ore Offshore Nov 20 Morning Technical Comment – 240 Min Chart (rolling contract) 26/1/21

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Daily DCE Review 26/1/21

Iron ore futures opened high but dipped at the close with further market selloff, as restocking activities slowed. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) dropped by 1.54% day-on-day or RMB 16 to RMB 1,025/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange however, gained slightly by …

Daily Capesize Review 25/1/21

Capesize freight rates continued it downward spiral with softening physical demand in both basins that were affected by unfavorable weather conditions. The Capesize 5 time charter average then slid further by $1,265 day-on-day to $23,366 on Monday, due to slow start to the trading week. The Baltic Dry Index (BDI) also headed southward on weakening …

FIS Fuel Oil Morning Report 26/01/2021

Brent crude was down 28 cents, or 0.5%, at $55.60 by 0431 GMT, while U.S. crude fell 25 cents, or 0.5%, to $52.52. Both rose nearly 1% on Monday.   The continuing theme of oil being capped comes from the rising coronavirus cases globally, but also the dwindling hope of a stimulus package in the …

FIS Weekly Ferrous Report 26/1/2021

Market Summary: Steel: – The speculators used to long U.S. linked commodities and short CNY linked commodities come to an end as currency become less sensitive to stimulus plan. Construction steel trading volume dropped by 50% from late December 200,000 tonnes to 100,000 tonnes by end of January. Steel bank construction steel inventories up 17.31% …