Iron ore futures extended gains on Wednesday session, improving from previous trading day position, despite mixed market outlook. The futures of Dalian Commodity Exchange (DCE) for September delivery then increased by 1.90% day-on-day or up RMB 15 to RMB 802.50/mt, during the day trading session on Wednesday. The rebar futures also inched up slightly by …
Monthly archives: August 2021
Daily Capesize Review 24/8/21
Capesize freight rates continued its upward momentum, though at slower rate amid tight shipping tonnage with heavy congestion at Chinese ports. The Capesize 5 time charter average, then rose by $764 day-on-day to $51,472 on Tuesday, despite some standoff between the charterers and owners. The Baltic Dry Index (BDI) then hiked up higher at $4,201, …
Iron Ore DCE Jan Daily Technical Review 25/8/21
Verdict – Short-term neutral. DCE iron ore January contract correct slightly during the day. Hourly stochastic KD created dead cross in the second hour of this Asian morning. CCI corrected for consecutive 6 hours. Hourly MACD also flattened. However daily MACD potentially create gold cross. The short-run and mid-run technical signals were conflicting at the …
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Daily Virtual Steel Mill Report 25/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · From January to July, China issued 3997.9 billion yuan of local government bonds, a year-on-year increase of 6.37%. In July, the country issued 656.8 billion yuan of local government bonds. About 50% of the new special bonds issued by local governments from January …
Morning Fuel Oil 25/08/21
Morning Oil Report Brent crude futures dropped 25 cents, or 0.4%, to $70.80 a barrel by 0525 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 28 cents, or 0.4%, to $67.26. Both benchmark contracts rose by about 8% over the previous two days, erasing most of the slump from a seven-day …
Fertilizer Market Report 24/08/21
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Tanker Morning Report 25/08/21
News Headlines: Oil retreats after two-day rally on supply issues (Reuters) Oil prices fell on Wednesday, taking a breather after a strong rally this week spurred by the loss of a quarter of Mexico’s production and signs that China, the world’s biggest importer, has curbed a recent coronavirus outbreak. ANZ commodity …
Capesize & Panamax FFA Daily Report 24/08/21
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Supramax & Handysize FFA Daily Report 24/08/21
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London Coking Coal Market Report 24/08/21
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