Monthly archives: August 2021

Ferrous trade weekly review 27/8/21

A total of 920,000 mt of iron ores was traded for the week ended Aug 27, down 3.16% week-on-week, despite some price recovery at the end of the week. Iron ore prices had rebounded as some trade participants believed that the pricing had reached near term bottom, while restocking activities had picked up before the …

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Morning Steel and Scrap Report 27/8/21

FOB China HRC   The index was stable yesterday (26.8.21) at US$908/t, MTD US$922/t.   Automakers including Toyota, Volkswagen and Ford have announced production cuts from September for lack of semiconductors. Covid lockdowns in Malaysia, a production center of semiconductors in southeast Asia, have been a driver of factory shutdowns.   Chinese HRC inventory held …

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Daily Virtual Steel Mill Report 27/8/21

Market Verdict on Iron Ore： –  Neutral. Macro – The day before chairman Powell’s important speech, hawkish officials of the Federal Reserve urged to start reducing the Treasury Bond purchase plan. They believe that the plan has become ineffective or even harmful. Iron Ore Key Indicators: –  Platts62 $153.35, +3.90, MTD $159.72. – MySteel 45 …

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Oil Morning Report 27/08/21

Brent crude futures rose 98 cents, or 1.4%, to $72.05 a barrel at 0542 GMT, after falling 1.6% on Thursday. U.S. West Texas Intermediate (WTI) crude futures climbed 93 cents, or 1.4%, to $68.35 a barrel, clawing back a 1.4% loss on Thursday.   Following its recovery over the last week, the oil rally appears …

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FIS Morning Report Tanker FFA 27-08-2021

News Headlines: OIL DAYBOOK EUROPE: Gulf of Mexico to be Hit by Storm; CFTC Data (Bloomberg) A budding storm in the Caribbean is threatening to become a powerful hurricane that could wreak havoc across the Gulf of Mexico and slam into Louisiana or Texas by early next week. Oil and natural gas explorers with facilities …

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