Monthly archives: September 2021

Ferrous trade weekly review 17/9/21

A total of 680,000 mt of iron ores was traded for the week ended Sep 17, down 19.05% on-week, amid price correction phrase for iron ore. Restocking of iron ore failed to pick up for the week, which typically will see more iron ore procurement ahead of the Golden week in early October. During the …

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Daily DCE Review 17/9/21

Iron ore futures extended losses at the day session, despite lower steel stocks recorded by Chinese traders. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 6.95% day-on-day or down RMB 47 to RMB 629/mt, during the day trading session on Friday. The rebar future also dropped by 2.25% day-on-day or …

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Steel and Scrap Morning Report 17/9/21

FOB China HRC The index kept flat yesterday (16.9.21) at US$909/t, MTD US$909/t.   Three major construction steel mills in Jiangsu province were heard to be expanding output cuts to 30pc for the rest of September, and a private mill shut down all its three blast furnaces for the rest of the month with no …

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Morning Oil Report 17/9/21

At 10:41 am Singapore time (0241 GMT), the ICE November Brent futures contract was down 16 cents/b (0.21%) from the previous close at $75.51/b, while the NYMEX October light sweet crude contract was 15 cents/b (0.21%) lower at $72.46/b. Demand concerns have resurfaced as China battles a fresh outbreak of COVID-19 cases in southern Fujian …

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ENGINE: Americas Bunker Fuel Market Update 16/9/21

Bunker prices have retreated from seven-week highs in the Americas as Brent runs out of steam. Changes on the day to 09.30 CST (14.30 GMT) today: · VLSFO prices down in Houston ($17/mt), New York and Los Angeles ($12/mt), Balboa and Zona Comun ($11/mt) · LSMGO prices down in Los Angeles ($35/mt), Zona Comun ($21/mt), …

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Iron Ore DCE Jan Daily Technical Review 17/9/21

Verdict – Short-term neutral to bearish. DCE iron ore January contract refreshed listed low during the day with increasing volume. The hourly MACD narrowed in bearish territory. Hourly Slow stochastic KD flattened. Hourly CCI potentially leave oversold area to neutral area. Technical signals indicated and exhaustion on the previous short, however the current trend was …

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Daily Virtual Steel Mill Report 17/9/21

Market Verdict on Iron Ore： ·         Neutral. Macro ·         European Central Banks announced that the media misrepresented inflation target and interest rate outlook. According to European Central Bank, Euro zone expected to reach 2% inflation rate target, indicating European central bank potential increase interest rate in the coming two years. ·         China Environment Bureau published …

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Daily Capesize Review 16/9/21

Capesize freight rates slid downward due to market uncertainty and discounted paper curve, with concerns over falling iron prices. The Capesize 5 time charter average, then dropped by $1,100 day-on-day to $52,281 on Thursday, as market participants were more cautious over mixed outlook. The Baltic Dry Index (BDI) then dipped by $18, down 0.43% day-on-day, …

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