HMS 80:20 Scrap *Turkish import prices fall $10 over the last week* Following a proactive procurement plan over the last month on Turkish Scrap, Turkish mills now appear to have taken to the sidelines with ample stock. Turkish import prices have gradually drifted down over the last week from the 3-month high of $270/t. The …
Author archives: Edward Hutton
Ferts in Focus 24/6/20
Focus in international urea markets has been on India’s most recent purchasing tender by RCF, and whether it would support the recent rebound in global urea prices. Early reports of sub $240/t cfr being offered for both east and west coast India point to softer prices globally. The question now, is how much volume will …
Will the Panamax Trend Continue?
Unpredictable and volatile is the life of a shipowner. Five weeks ago the Panamax index was at USD 4,054, the US and China were trading insults over the origin of the COVID-19 pandemic leaving the phase 1 trade deal to exist on paper only. The index is now 138% higher at USD 9,661, China …
Steel & Scrap 24-06-20
Oil Through the Looking Glass 24/6/20
*API FYI, but WBU EIA* The American Petroleum Institute (API) has predicted that crude stocks rose by 1.7 mil bbls last week. This isn’t exactly the greatest news on the demand front, something which is sorely needed by producers to help drive up prices after such historic lows in April. That being said, they have …
FIS Fuel Oil Morning Report 24/06/2020
Good morning all. Brent crude was down 29 cents, or 0.7%, at $42.34 a barrel by 0335 GMT, while U.S. WTI crude futures fell 35 cents, or 0.9%, to $40.02 a barrel. The market has continued to come off recent highs after the API predicted a build of 1.7 million bbls for last week. It …
