Monthly archives: November 2021

Daily Capesize Review 23/11/21

Capesize freight rates continued to rally on better shipping demand and higher commodity prices, though some trade participants deemed the rally as short-lived due to coming holidays. The Capesize 5 time charter average, then grew by $1,421 day-on-day to $33,631 on Tuesday, as the paper market turned bullish after a positive start at the week. …

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Iron Ore DCE Jan Daily Technical Review 24/11/21

Verdict – Short-term bullish. DCE iron ore Jan22 maintained strong rebound during the day. Iron ore aggregated open interest decreased by 12.43%, this decrease was majorly caused by a taking gains from previous short-positions. Hourly CCI maintained in bullish territory. Hourly slow stochastic KD maintained in bullish territory. Short-run technical were indicating a bullish in …

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Daily Virtual Steel Mill Report 24/11/21

Market Verdict on Iron Ore： ·         Neutral to bullish. Macro ·         U.S. white house announced that the energy department will release 5,000 barrels of crude oil from Special Petroleum Reserve to resist oil price and resolve the supply disruption caused by pandemic. Iron Ore Key Indicators: ·          Platts 62%: $99.45 (+4.75) MTD $93.38. SGX and …

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Daily DCE Review 24/11/21

Iron ore futures rose for the third consecutive day on market optimism over higher steel output after the lifting of production restrictions. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 5.84% day-on-day or up RMB 34 to RMB 616.50/mt, during the day trading session on Wednesday. The rebar futures also …

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Oil and Products Morning Report 24/11/21 24/11/21

At 10:23 am Singapore time (0223 GMT), the ICE January Brent futures contract was up 14 cents/b (0.17%) from the previous close at $82.45/b, while the NYMEX January light sweet crude contract was 25 cents/b (0.32%) higher at $78.75/b.   Oil prices continued to climb after settling 2.3%-3.3% higher overnight as investors deemed the scale …

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