Monthly archives: November 2021

Daily DCE Review 25/11/21

Iron ore futures extended bullish run over higher steel output and prices that drove improvement in steel margins. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 1.83% day-on-day or up RMB 11 to RMB 611.50/mt, during the day trading session on Thursday. The rebar futures also increased by 0.86% day-on-day …

Continue reading “Daily DCE Review 25/11/21”

ENGINE: Americas Bunker Fuel Market Update 24/11/21

Americas bunker prices continue to rise with support from Brent, but none more so than Vancouver’s, which have surged after a storm cut off resupply lines.   Changes on the day to 08.30 CST (14.30 GMT) today: VLSFO prices up in Los Angeles and Zona Comun ($8/mt), Houston ($7/mt) and New York ($5/mt), and down …

Continue reading “ENGINE: Americas Bunker Fuel Market Update 24/11/21”

Iron Ore DCE Jan Daily Technical Review 25/11/21

Verdict – Short-term neutral. DCE iron ore Jan22 maintained bullish from last night session however retreated during the Asian day session. Iron ore aggregated open interest also narrowed for the two consecutive trading days. Hourly slow stochastic KD created dead cross in overbought area. Hourly CCI retreated to neutral area from a previous bullish territory. …

Continue reading “Iron Ore DCE Jan Daily Technical Review 25/11/21”

Daily Virtual Steel Mill Report 25/11/21

Market Verdict on Iron Ore： ·         Neutral. Macro ·         China PM Li Keqiang and state council held a conference request to accelerate issuance of specialized debts in the coming year. ·         U.S. FOMC notes revealed a flexible date on the interest rate raise. ·         Indonesia president indicated the country potential stop exporting in the year …

Continue reading “Daily Virtual Steel Mill Report 25/11/21”

Oil and Products Morning Report 25/11/21

At 10:25 am Singapore time (0225 GMT), the ICE January Brent futures contract was up 4 cents/b (0.05%) from the previous close at $82.29/b, while the NYMEX January light sweet crude contract was 3 cents/b (0.04%) lower at $78.36/b.   EIA Report Crude: 1,017 Cushing: 0,787 Distillate: -1,968 Gasoline: -0,603 Production: 100   Total US …

Continue reading “Oil and Products Morning Report 25/11/21”