Monthly archives: March 2021

FIS Fuel Oil Morning Report 15/03/21

Brent crude futures for May gained 47 cents, or 0.7%, to $69.69 a barrel by 0438 GMT while U.S. West Texas Intermediate crude for April was at $66.10 a barrel, up 49 cents, or 0.8%.   The US stimulus package had sent the global economy into a positive mood in the past week as Biden …

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Daily DCE Review 15/3/21

Iron ore futures dipped on stricter emission cuts in steelmaking hub of Tangshan, imposed by Chinese environment ministry. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then slid by 3.50% day-on-day or up RMB 37.50 to RMB 1,035/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange, however managed …

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Daily Capesize Review 12/3/21

Capesize freight rates continued to slide from recent rally, due to cooldown of market activities after upticks. The Capesize 5 time charter average then fell by $612 day-on-day to $16,741 on Friday, after some corrections in the market. The Baltic Dry Index (BDI) also dipped slightly by 0.51% or 10 points to 1,960 readings, amid …

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Iron Ore DCE May Daily Technical Review 15/3/21

Verdict – Short-term neutral. DCE iron ore may contract tested low from February 8th, and then recover some gains during the day session. The major short positions were on September contract. The rolling expected to complete in late March seasonally. Hourly slow stochastic KD potentially create a gold cross above oversold area. CCI rebounded. Short-run …

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Ferrous Daily Physical Review 15/3/21

Ferrous Market –    Steelbank construction steels inventory 10.29 million tonnes, up 0.35% w-o-w. HRC inventories 3.14 million tonnes, up 4.12% w-o-w. –    Tangshan held a emergent meeting on March 13th, the mayor of Tangshan required manufacturing industry to follow the production curb strictly, to cut 50% of carbon emission. –    China physical coke down 100 …

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