FIS API Blog
Freight prices jumped on Monday with front month Capesize futures up over 10% on anticipation of a large stimulus package out of China later this week. This created a knock-on effect into the smaller vessels with the Panamax front month futures up over 5%. Oil futures performed well with a USD 3.00 move higher, as …
Continue reading “Commodities Bounce Back on Chinese Stimulus Anticipation and Vaccine Hopes”
Aluminum will average $1,600 a ton this year, according to Fitch Solutions, which cut its forecast from $1,850 as demand prospects weaken. Global consumption will decline 1.1% this year due to disruption from pandemic, especially closures of major car manufacturers, according to note Demand in China will fall 2% NOTE: LME aluminum last traded at $1,470/ton; YTD …
Continue reading “Fitch Solutions Cuts Aluminum Outlook Amid Risks for Metals”
Soybean futures climbed as life gradually returns to normal in China with more people dining out and more schools reopening, a trend set to increase demand for everything from meat to cooking oil in the top consumer. Soybean meal futures in Dalian headed for their best daily gain since March. Restarting schools and restaurants is …
Continue reading “Soybeans Advance on Brightening Prospects for Demand in China”
China’s house-price growth accelerated in April as the central bank’s credit easing gave the property market a much-needed lift out of the coronavirus shutdown. * New-home prices in 70 major cities, excluding state-subsidized housing, gained 0.42% in April, National Bureau of Statistics data released Monday showed. That’s up from a 0.13% increase in March. * …
Continue reading “China Home-Price Growth Accelerates in Property Market Boost”
Vessels carrying dry bulk commodities are struggling to make a profit because of the double hit of lower seasonal demand for cargoes and the Covid-19 pandemic that’s wrecking trade and industrial activity worldwide. “We’re really at the very bottom for dry bulk,” William Fairclough, managing director of Wah Kwong Maritime Transport Holdings Ltd., one of …
Continue reading “Bulk Shipping ‘At The Very Bottom’ as Carrier Earnings Plunge”
Iron ore futures head for the highest close in four months on supply concerns, as the number of coronavirus infections in major producer Brazil continues to soar. Brazil added more cases after a record number of infections Friday, overtaking Spain as the nation with the world’s fourth- highest number of confirmed Covid-19 patients. Brazil’s new …
Continue reading “Iron Jumps as Brazil Virus Cases Stoke Supply Concerns”
