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Monthly archives: August 2021
Capesize & Panamax FFA Daily Report 19/08/21
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Fuel Oil Daily Evening Report 19/08/21
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London Iron Ore Market Report 19/08/21
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Morning Steel and Scrap Report 19/08/21
FOB China HRC The index fell by $6/t yesterday (18.8.21) to US$919/t, MTD US$927.58/t. Beijing has pushed a “common prosperity” objective to reduce economic inequality, raising risks of an economic slowdown during the regulatory reset. Policymakers said they can counter that risk with monetary and fiscal support. Beijing also plans to add more …
Singapore Iron Ore Derivatives 19/08/21
Iron Ore Market Update Market Commentary The rout on iron ore accelerated on Thursday as it plunged below $130 following concerns over Chinese steel demand. Iron ore has taken a heaving beating in the past fortnight as authorities in Beijing tightened controls over steel production in an attempt to reduce emission. These production controls are …
Daily DCE Review 19/8/21
Iron ore futures slumped further on lower steel demand, amid heavy buildup of iron ore stocks across the value chain. The futures of Dalian Commodity Exchange (DCE) for September delivery then plunged by 7.18% day-on-day or down RMB 59 to RMB 762.50/mt, during the day trading session on Thursday. The rebar futures, also dropped by …
Iron Ore DCE Jan Daily Technical Review 19/8/21
Verdict – Short-term neutral to bearish. DCE iron ore January contract opened low and generated a normal gap, iron ore also broke resistance at 777.5, however supported by major 750- 759.0 area. The significant increasing volume and the slight recover during last two hours were indicating iron ore potentially oversold in short-run. Hourly slow stochastic …
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Daily Capesize Review 18/8/21
Capesize freight rates extended its record-high bullish run, with market optimism on better demand and tight tonnage. The Capesize 5 time charter average, then rose by $3,446 day-on-day to $44,495 on Wednesday, due to better market sentiment. The Baltic Dry Index (BDI) also hiked up further at record-high levels of $3,833, up 4.81% day-on-day, due …
Daily Virtual Steel Mill Report 19/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. FOMC notes indicated to decrease QE within the year 2021. The attendee of the conference said the inflation was caused by labor and supply chain shortage, which was temporarily. However the cost increase by supply chain breakdown was beyond expectation. The new …