Monthly archives: July 2021

FIS Singapore Iron Ore Derivatives Report 29/07/21

Market Commentary Iron ore futures were heavily sold off on Thursday as China raised steel export tariffs as it seeks to achieve the twin goals of capping capping domestic production and taming the surging raw material prices that have fanned concerns about inflation. Starting from 1 August, China will raise the export tax on high-purity …

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ENGINE: East of Suez Bunker Fuel Market Update 29/7/21

East of Suez bunker price movements have been mixed amid a $0.50/bbl Brent gain in the past day.   Changes on the day to 16.00 SGT (08.00 GMT) today: VLSFO prices up in Zhoushan ($10/mt) and Fujairah ($3/mt), and down in Singapore ($3/mt) LSMGO prices up in Zhoushan ($10/mt), Fujairah ($5/mt) and Singapore ($4/mt) HSFO380 …

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ENGINE: Europe & Africa Bunker Fuel Market Update 29/7/21

Bunker prices have made fresh gains in Europe and Africa, and rough weather is set to disrupt bunkering in Las Palmas and Algoa Bay until next week.   Changes on the day to 08.00 GMT today: VLSFO prices up in Durban ($11/mt), Gibraltar ($6/mt) and Rotterdam ($5/mt) LSMGO prices up in Durban ($9/mt), Gibraltar ($7/mt) …

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Daily DCE Review 29/7/21

Iron ore futures reversed into losses on Thursday, as market participants expected more output cuts ahead that limited raw material demand. The futures of Dalian Commodity Exchange (DCE) for September delivery then dropped by 1.59% day-on-day or RMB 18 to RMB 1,114.50/mt during the day trading session on Thursday. The rebar futures, however hiked up …

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Iron Ore DCE Sep Daily Technical Review 29/7/21

Verdict – Short-term neutral, slow down on correction. DCE iron ore September tested two months low at 1094.0 and rebounded fast before closing to recover partial loss. In general, the support around 1110- 1113.5 was strong even it was broken during the market, since price and volume went up to push price back quickly. A …

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Daily Virtual Steel Mill Report 29/7/21

Market Verdict on Iron Ore： ·         Iron ore short-run neutral. Macro ·         U.S. Federal maintained 0-0.25% unchanged as interest rate, fell in expectation. ·         FTSE A50 Index rebounded near 3% overnight. Shanghai Equity rebounded 1.5% in early afternoon. Iron Ore Key Indicators: ·         Platts62 $201.25, +0.80, MTD $214.54. ·         China Iron and Steel Association(CISA): The …

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Daily Capesize Review 28/7/21

Capesize freight rates moved flatly with some improvement in the physical market, which led some trade participants to believe that the market had found the bottom. The Capesize 5 time charter average, then dipped slightly by $24 day-on-day to $31,856 on Wednesday, despite increase of shipping activities in the physical market. The Baltic Dry Index …

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