Monthly archives: February 2021

Daily Capesize Review 23/2/21

Capesize freight rates continued to move downward, as shipping activities thinned after recent rally. The Capesize 5 time charter average then dropped by $657 day-on-day to $13,216 on Tuesday, as the March contract came under pressure and traded lower. The Baltic Dry Index (BDI) however, rose higher on the strength of Panamax market, spotting a …

Continue reading “Daily Capesize Review 23/2/21”

FIS Fuel Oil Morning Report 24/02/21

API inventories Crude +1.026M VS Est. -5.372M Cushing +2.783M VS Prev. -3.034M Gasoline +0.066M VS Est. -3.427M Distillate -4.489M VS Est. -3.905M   Crude stockpiles rose by 1 million barrels in the week to Feb. 19, the American Petroleum Institute (API) reported on Tuesday, against estimates for a draw of 5.2 million barrels in a …

Continue reading “FIS Fuel Oil Morning Report 24/02/21”

Iron Ore DCE May Daily Technical Review 24/2/21

Verdict – Short-term neutral. DCE iron ore consolidated in narrow range after a big movement before and after Powell’s speech. Be aware of the lower lows and lower highs created over the three trading days of the week. A breakdown on 1089- 1090 area would potentially initiate a correction and chances to fill the gap …

Continue reading “Iron Ore DCE May Daily Technical Review 24/2/21”

Ferrous Daily Physical Review 24/2/21

Ferrous Market –    Brazil miner CSN Q4 iron ore production 9.47 million tonnes, down 18% from Q3, down 11.4% y-o-y. Q4 iron ore sales 8.64 million tonnes, down 6% from Q3, down 16.4% y-o-y. –    MySteel estimate year 2021 iron ore delivery increase 96.3 million tonnes, major contributed by Brazil, India, and U.S.. Q1 supply …

Continue reading “Ferrous Daily Physical Review 24/2/21”