Monthly archives: March 2021

Daily DCE Review 11/3/21

Iron ore futures rebounded from previous trading day losses and closed higher at the afternoon session. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), rose by 5.55% day-on-day or up RMB 57.50 to RMB 1,093.50/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange followed the rally and hiked …

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Daily Capesize Review 10/3/21

Capesize freight rates continued to firm up on bullish paper market with strong gains in both basins. The Capesize 5 time charter average then surged up by $1,719 day-on-day to $17,889 on Wednesday, due to better shipping outlooks. The Baltic Dry Index (BDI) also hiked up by 4.16% or 79 points to 1,980 readings, amid …

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FIS Fuel Oil Morning Report 11/03/21

Brent crude oil futures for May rose 55 cents, or 0.8%, to $68.45 a barrel by 0328 GMT, while U.S. West Texas Intermediate crude for April was up 52 cents, or 0.8%, at $64.96.   EIA week ending 3/5 Crude oil: +13.8M Gasoline: -11.9M Distillates: -5.5M Refiner utilz: 69.0% Impld mogas demand: 8.73Mbpd   Gains …

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Iron Ore DCE May Daily Technical Review 11/3/21

Verdict – Short-term neutral. DCE iron ore may contract rebounded significantly during the Asian day session, the noon push was related to copper. In addition, Shanghai equity created second biggest rebound of the year. Hourly MACD created a gold cross during the second hour of this morning. Hourly slow stochastic KD created gold cross during …

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Ferrous Daily Physical Review 11/3/21

Ferrous Market –    Tangshan 10 sample steel mills pig iron before tax 3174 yuan/tonne, billet cost 4024 yuan/tonne, down 22 yuan/tonne w-o-w. Gross profit 266 yuan/tonne, down 98 yuan/tonne. –    MySteel Rebar Inventory: Rebar production 3.49 million tonnes, up 3.28% w-o-w. Mills inventory 5.30 million tonnes, up 1.49% w-o-w. Circulation inventory 13.02 million tonnes, down …

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