Monthly archives: April 2021

FIS Fuel Oil Morning Report 29/04/21

Brent opened up +0.3% or 20c higher at$67.47 as of 8am GMT We are again on the front foot as oil edges higher as rising demand optimism offsets virus surge ! I get the feeling the market is now well trenched in the idea that demand is going to boom in the 2h of this …

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Iron Ore DCE Sep Daily Technical Review 29/4/21

Verdict – Short-term neutral. DCE iron ore September contract consolidated as previous expected in wide range with increasing volume and smaller open interest because of approaching Labor Day. However hourly stochastic KD created dead cross. Hourly MACD widened below 0 axis. Iron ore currently has no clear trend within the range box of 1110.5 – …

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Daily Virtual Steel Mill Report 29/4/21

Market Verdict on Iron Ore： ·         Iron ore neutral. Macro ·         U.S. federal maintained the interest rate between 0-0.25% unchanged, in line with market expectation. Powell announced that Federal will seek financial facilities to decrease inflation rate if inflation goes beyond 2%. Iron Ore Key Indicators: ·         Platts 62%: $190.45 (-3.40) MTD $178.70. Port market …

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Iron Ore DCE Sep Daily Technical Review 28/4/21

Verdict – Short-term neutral. DCE iron ore September contract tested low in night session and rebounded during day session. Hourly slow stochastic KD created dead cross near overbought area and then flattened. Hourly CCI rebounded from -100 area. 1166.0 level has become a significant resistance level during current two days. The major support from 1113.0- …

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Daily Virtual Steel Mill Report 28/4/21

Market Verdict on Iron Ore： ·         Iron ore neutral. Macro ·         China national Bureau of Statistics indicated Jan-Mar above scale industry enterprise realised 182.54 million yuan profit, up 1.37 times y-o-y, up 50.2% compared with same period in the year 2019. ·         Several cities in eastern China started the fifth round of price increase on …

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