Monthly archives: October 2021

Iron Ore DCE Jan Daily Technical Review 29/10/21

Verdict – Short-term neutral to bearish. China thermal coal futures and coking coal futures all reached limit-down which bring back a bearish sentiment on all ferrous market. Iron ore corrected and breakdown important support level around 639.0 – 643.0 and went back to descending tunnel. Hourly MACD widened below 0 axis. Hourly CCI went into …

Continue reading “Iron Ore DCE Jan Daily Technical Review 29/10/21”

Daily Virtual Steel Mill Report 29/10/21

Market Verdict on Iron Ore： ·         Neutral. Macro ·         China CCTV news: U.S. trade representative Katherine Tai seek to ease trade relations with China in a U.S. poultry conference. ·         U.S. Q3 GDP up 2% y-o-y, Q2 up 6.7%. The slowing down on GDP growth rate was far beyond expectation. Iron Ore Key Indicators: ·         …

Continue reading “Daily Virtual Steel Mill Report 29/10/21”

ENGINE: Americas Bunker Fuel Market Update 29/10/21

Americas bunker prices have declined further in several key locations, as Brent sheds $1/bbl in the wake of a big US crude inventory build.   Changes on the day to 09.30 CST (14.30 GMT) today: VLSFO prices up in Los Angeles ($3/mt), and down in Houston ($21/mt), New York and Balboa ($14/mt) and Zona Comun …

Continue reading “ENGINE: Americas Bunker Fuel Market Update 29/10/21”

Daily Capesize Review 28/10/21

Capesize freight rates came under pressures from sluggish demand, with market concerns over softening iron ore and coal prices. The Capesize 5 time charter average, then fell by $2,371 day-on-day to $37,669 on Thursday, following a series of corrections. The Baltic Dry Index (BDI) extended losses and dropped by $178, down 4.67% day-on-day, to $3,630, …

Continue reading “Daily Capesize Review 28/10/21”