Monthly archives: June 2021

Daily DCE Review 4/6/21

Iron ore futures ended its bullish run at the close of the week, bowing to the pressure of low steel margins and demand concern over the upcoming rainy season. The futures of Dalian Commodity Exchange (DCE) for September delivery then went down by 1.85% on-day or down RMB 22 to RMB 1,168/mt on Friday. The …

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Daily Capesize Review 3/6/21

Capesize freight rates continued its downward spiral, due to thin market activities following holiday in Brazil. The Capesize 5 time charter average, then fell further by $1,629 day-on-day to $22,102 on Thursday, after another rounds of selloff. The Baltic Dry Index (BDI) also dropped further by 2.29% or 58 points on-day to 2,472 readings, due …

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Iron Ore DCE Sep Daily Technical Review 4/6/21

Verdict – Short-term neutral. DCE iron ore September contract significantly narrowed the volatility during the current two days, after a failure to break periodic high at 1221.5. Hourly CCI was approaching bearish area. Hourly KD explored new room to correct. Hourly MACD widened at bearish territory. Short-run signals indicate potential to test low, however mid-run …

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Daily Virtual Steel Mill Report 4/6/21

Market Verdict on Iron Ore： ·         Iron ore short-run neutral. Macro ·         Ministry of Commerce: we will continue to ensure the supply and price of commodities, promote diversifying on import commodities, strengthen international cooperation, and build a mutual benefit and stable trade channel for commodities. At the same time, we should strengthen the cooperation between …

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FIS Fuel Oil Morning Report 04/06/21

At 11:06 am Singapore time (0306 GMT), the ICE Brent August contract was down 26 cents/b (0.36%) from the previous settle at $71.05/b, while the July NYMEX light sweet crude contract was down 19 cents/b (0.28%) at $68.62/b.   EIA week ending 5/28 Crude oil: -5.1M Gasoline: +1.5M Distillates: +3.7M Refiner utilz: 88.7% Impld mogas …

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FIS Morning Report Tanker FFA 04-06-21

News Headlines: OIL DAYBOOK EUROPE: Saudis Increase Oil Prices for Asia; OPEC+ (Bloomberg) Saudi Arabia increased oil prices for customers in its main market of Asia by more than expected after Brent topped $70 a barrel and OPEC forecast global demand would outstrip supply over the rest of the year.     UN Urges Yemen’s …

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