FOB China HRC The index was flat yesterday (12.8.21) at US$928/t, MTD US$928.50/t. HRC stockpiles at traders and mills increased by over 60,000t this week, with output increasing, participants said. Buyers were not ready to book with weak demand and some traders started to concern downstream demand may not recover in September. In …
Monthly archives: August 2021
Singapore Iron Ore Report 13/08/21
Iron Ore Market Update Market Commentary China’s steel outlook looks bleak as China’s steel industry vowed to enforce efforts to cut output this year. According to Shanghai Securities News, the government will work closely with the industry to develop plans for staggered steel production cuts over winter. Major producers such as Jiangsu and Shandong have …
Ferrous trade weekly review 13/8/21
A total of 760,000 mt of iron ores was traded for the week ended Aug 13, up 1.33% week-on-week, despite a short trading week with public holidays in Asia. Steel demand remained bearish, due to the ongoing output cuts in China, though some trade participants were heard to purchase more cargoes to capitalize on the …
Daily DCE Review 13/8/21
Iron ore futures closed the week on slight drop after a week of corrections, amid ongoing production cuts among Chinese mills. The futures of Dalian Commodity Exchange (DCE) for September delivery then dipped by 0.94% day-on-day or down RMB 8 to RMB 841.50/mt, during the day trading session on Friday. The rebar futures also fell …
Daily Capesize Review 12/8/21
Capesize freight rates rose on bullish market sentiments as key routes spotted better gains on active market. The Capesize 5 time charter average, then rose by $1,863 day-on-day to $38,217 on Thursday, due improving freight rates. The Baltic Dry Index (BDI) also hiked up 2.73% day-on-day, or 93 points to 3,503 readings, due to better …
Iron Ore DCE Jan Daily Technical Review 13/8/21
Verdict – Short-term neutral, oversold currently. DCE iron ore January created new low from March 24th. Hourly MACD flattened. Hourly slow stochastic KD created gold cross above oversold area. Hourly CCI entered neutral area from bearish area. If an effective breakthrough on 845.0 would indicate a fast rebound to approach 874.5 area. The first support …
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Daily Virtual Steel Mill Report 13/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · In July, the electricity consumption continued to grow at 775.8 billion kwh, a year-on-year increase of 12.8%, an increase of 16.3% over the same period in 2019, and an average increase of 7.8% in the two years. Iron Ore Key Indicators: · Platts62 …
Morning Fuel Oil Report 13/08/21
Morning Oil Report Brent crude was down 49 cents, or 0.7%, at $70.82 a barrel by 0507 GMT, after dropping 13 cents in the previous session. U.S. crude was off by 53 cents, or 0.8%, at $68.56 a barrel, having fallen 0.2% on Thursday. The benchmarks are still heading for a slight gain this …
Tanker Morning Report 13/08/21
News Headlines: OIL DAYBOOK EUROPE: Cheap U.S. Crude Flows to Asia; Pemex Woes (Bloomberg) Asian buyers are snapping up cheap U.S. crude cargoes despite demand concerns due to the latest coronavirus resurgence, with the flurry of deals likely to be at the expense of Middle Eastern barrels. Chinese, Indian and South Korean companies …
Fertilizer Market Report 12/08/21
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