Monthly archives: May 2021

Daily DCE Review 12/5/21

Iron ore futures continued to rally on Wednesday, though at a smaller increase as seen previously at start of the week. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose by 2.85% on-day or RMB 37 to RMB 1,337/mt on May 12. The steel rebar contract on the Shanghai Futures Exchange, also …

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Morning Tanker Report 12-05-2021

News Headlines: Colonial Facing Pressure on Pipeline Restart (Bloomberg) Colonial Pipeline Co. told federal officials it will know by late Wednesday whether it’s safe to restart gasoline and diesel flows.     White House Explores Jones Act Waiver to Ship Fuel by Tanker (Bloomberg) The Biden administration took a first step toward waiving century-old U.S. …

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Iron Ore DCE Sep Daily Technical Review 12/5/21

Verdict – Short-term bullish. DCE iron ore September contract continued rebound. Hourly CCI recovered massively from a monthly low of May in current two trading days. Hourly chart indicated the previous gap by the opening of May 10th successfully supported the new round of strong movement. However a short-run increase on price need to confirm …

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Daily Virtual Steel Mill Report 12/5/21

Market Verdict on Iron Ore： ·         Iron ore short-run bullish. Macro ·         U.S. dollar index DXY maintained consolidation from 90 – 90.3. ·         United Nations mid-year 2021 report indicated China growth expected to growth rate at 8.2%, higher than previous prediction at 7.2%. U.S. economy growth rate at 6.2%, higher than previous prediction as well. …

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Fuel Oil Morning Report 12/05/21

U.S. West Texas Intermediate (WTI) crude futures rose 21 cents, or 0.3%, to $65.49 a barrel at 0013 GMT, adding to a 36 cent rise on Tuesday. Brent crude futures climbed 15 cents, or 0.2%, to $68.70 a barrel, adding to a 23 cent gain on Tuesday.   API Crude -2.533M Cushing -1.209M Gasoline +5.640M …

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Daily Capesize Review 11/5/21

Capesize freight rates faced slight correction after recent paper rally, as the physical market failed to keep up with the market optimism. The Capesize 5 time charter average then dipped by $339 day-on-day to $42,031 on Tuesday, following a selloff in the trading session. The Baltic Dry Index (BDI) also inched up slightly by 0.43% …

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