Will we reach $260/t CFR for physical scrap? Stronger Chinese demand for finished steel products has helped increase Turkish scrap import prices over the past week. Again, there were a handful of physical bookings completed late last week between $255-$258/t CFR. According to Platts a US based seller transacted an HMS 90:10 cargo (which also …
Author archives: Edward Hutton
*Oil Through the Looking Glass 15/7/20*
*API Predicts Another Inventory Fall* The API released their prediction last night that US crude stocks fell by 8.3 million bbls, contrary to analysts’ expectations of a 2.1 million decline. These predictions have added to positive moves this morning, as Brent moved further above $43. The EIA will announce their figures today at 3.30pm UK …
Freight Intraday Morning Technical
Steel & Scrap Morning Report
Tanker News Update 15/7/20
*Could There be Another Storage Boom* As the independent teapot refineries in the Chinese Shandong region increase their run rate, storage is once again reaching its limit. This greater run rate, is in attempt to de-congest the multiple VLCC’s waiting to discharge in Chinese waters. Demand for refined product is slowly starting to come online, …
Ferts in Focus 15/07/20
India to tender again Thursday saw the announcement of India’s next urea purchasing tender. It was inevitable and widely expected, but the usual rigmarole in the lead up was spared and the announcement largely caught the market by surprise. The purchasing tender issued by MMTC is for an unspecified quantity of urea for shipment by …
