Monthly archives: August 2021

Daily DCE Review 18/8/21

Iron ore futures fell further over subdued steel demand and low restocking activities among mills. The futures of Dalian Commodity Exchange (DCE) for September delivery then fell by 3.73% day-on-day or down RMB 31.50 to RMB 813/mt, during the day trading session on Wednesday. The rebar futures, also dropped by 3.71% day-on-day or RMB 198 …

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Morning Steel and Scrap Report 18/08/21

FOB China HRC   The index fell by $6/t yesterday (17.8.21) to US$925/t, MTD US$928.36/t.   The National Development and Reform Commission said that nine provinces including eastern China’s Jiangsu province showed increasing energy consumption in the first half year, and these regions were asked to make more enforceable measures to meet the energy consumption …

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Daily Capesize Review 17/8/21

Capesize freight rates strengthened further, after a flurry of fixtures done at higher rates from better shipping demand. The Capesize 5 time charter average, then rose by $812 day-on-day to $41,049 on Tuesday, due to improving freight rates. The Baltic Dry Index (BDI) surged up further at record levels of almost 11 years high at …

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Morning Fuel Oil Report 18/08/21

Morning Oil Report   After flitting around Tuesday’s close in Asian morning trade, Brent crude was up 23 cents or 0.3% at $69.26 a barrel by 0512 GMT. U.S. oil gained 24 cents or 0.4% to $66.83 a barrel.   API Crude -1.163M Cushing -1.735M Gasoline -1.1979M Distillate +0.502M     US crude inventories declined …

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Iron Ore DCE Jan Daily Technical Review 18/8/21

Verdict – Short-term neutral to bearish. DCE iron ore January contract confirmed the bearish trend during this Tuesday and Wednesday. Firstly iron ore broke down the important previous support at 814.0 area, the push back after then was not strong enough to bring a higher closing above 814.0. Hourly MACD widened below 0 axis. CCI …

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Daily Virtual Steel Mill Report 18/8/21

Market Verdict on Iron Ore： ·         Iron ore short-run neutral. Macro ·         U.S. Federal officials reached agreement that potentially exit part of monetary ease policy in three months if economy presenting positive signs in future. ·         U.S. Treasury Secretary Yellen said the Biden’s infrastructure and social projects expending bill was the “most important economy projects” …

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Tanker Morning Report 18/08/21

News Headlines:     Oil steadies, Delta outbreaks cloud demand prospects  (Reuters) Oil prices steadied on Wednesday, after four days of declines with investors still wary about prospects for stronger fuel demand as the use of rail, air and other forms of transport remained constrained amid surging COVID-19 cases worldwide.     Prices Could Move …

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