Daily DCE Review 6/5/21

Iron ore futures rallied as trade participants returned from the long holidays amid high steel prices and margins. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then surged up by 6.81% day-on-day or up RMB 75.50 to RMB 1,184/mt on Thursday. The steel rebar contract on the Shanghai Futures …

Daily Capesize Review 5/5/21

Capesize freight rates continued to rise on the thriving FFA market, buoyed by robust steel demand in China. The Capesize 5 time charter average then rose up by $1,858 day-on-day to $44,819 on Wednesday, due to better market outlook. The Baltic Dry Index (BDI) also went up by 3.45% or 109 points on-day to 3,266 …

FIS Fuel Oil Morning Report 06/05/21

Brent crude oil futures rose by 17 cents, or 0.3%, to $69.13 a barrel by 0343 GMT, and U.S. West Texas Intermediate (WTI) crude futures gained by 8 cents, or 0.1%, to $65.71 a barrel. Both benchmarks had hit their highest since mid-March on Wednesday before retreating.   EIA Report Crude: -7,99 Cushing: 0,254 Distillate: …

Iron Ore DCE Sep Daily Technical Review 6/5/21

Verdict – Short-term neutral to bullish. DCE iron ore September contract refreshed historical high and maintain strong movement. Iron ore created a gap as a strong support after a high open cross Labor Day Holiday. Hourly slow stochastic KD created gold cross near oversold area. Hourly CCI created two-weeks-high fast from a monthly low during …

Daily Virtual Steel Mill Report 6/5/21

Market Verdict on Iron Ore: ·         Iron ore neutral to bullish. Macro ·         China National Development of Reform Commission decides to indefinitely suspend all activities under the framework of the China-Australia Strategic Economic Dialogue jointly held by the National Development and Reform Commission of the People’s Republic of China and relevant ministries of the Australian …