Monthly archives: July 2021

ENGINE: Europe & Africa Bunker Fuel Market Update 16/7/21

Bunker prices have recovered some of their heavy losses in the previous session, and prices have surged in South African ports affected by civil unrest disruptions this week.   Changes on the day to 08.00 GMT today: VLSFO prices up in Durban ($20/mt), Rotterdam ($9/mt) and Gibraltar ($6/mt) LSMGO prices up in Durban ($22/mt), Gibraltar …

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Ferrous trade weekly review 16/7/21

A total of 1.16 million mt of iron ores was traded for the week ended Jul 16, after steel output cut was relaxed from early July, which led to more steel consumption and demand. However, many trade participants saw the relaxation as temporary and expected further production cuts in H2 2021 in effort to cut …

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Daily DCE Review 16/7/21

Iron ore futures rose on Friday trading session, as steel consumption increased, and market participants anticipated more stimulus measures during H2 2021. The futures of Dalian Commodity Exchange (DCE) for September delivery then went up by 1.89% day-on-day or RMB 23 to RMB 1,241/mt during the day trading session on Friday. The rebar futures also …

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Daily Virtual Steel Mill Report 16/7/21

Market Verdict on Iron Ore： ·         Iron ore short-run neutral. Macro ·         China Q2 GDP grew by 7.9% year on year and 18.3% in Q1. In the first half of the year, the GDP was 53216.7 billion yuan, a year-on-year increase of 12.7%, 5.6% lower than that in the first quarter. ·         In June, the …

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Daily Capesize Review 15/7/21

Capesize freight rates continued to spiral downward, despite a move up supported by the improving physical market. The Capesize 5 time charter average, then fell by $434 day-on-day to $28,694 on Thursday, after a choppy trading session. The Baltic Dry Index (BDI) then dropped by 2.10% day-on-day, down 66 points to 3,073 readings, due to …

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FIS Fuel Oil Morning Report 16/07/21

Good morning and happy Friday.  As of 11:26 am Singapore time (0326 GMT), the ICE September Brent crude futures contract rose 2 cents/b (0.03%) from the previous close at $73.49/b, while the NYMEX August light sweet crude contract was up 4 cents/b (0.06%) at $71.69/b. The front month ICE Brent and NYMEX light sweet crude …

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FIS Morning Report Tanker FFA 16-07-21

  News Headlines: Benchmark Oil Tanker Losses Stretch Further (Bloomberg) Rates for hauling oil on the benchmark TD3C were stable at Worldscale 31.55 on Thursday, equating to a daily loss of $5,616, compared with a loss of $5,385 on Wednesday.     OIL DAYBOOK EUROPE: Top Polluter Launches Biggest Carbon Market (Bloomberg) Trading has begun …

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