Author archives: Edward Hutton
Brent July 20 Morning Technical Comment – 240 Min
Fitch Solutions Cuts Aluminum Outlook Amid Risks for Metals
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 …
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Soybeans Advance on Brightening Prospects for Demand in China
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 …
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China Home-Price Growth Accelerates in Property Market Boost
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. * …
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Bulk Shipping ‘At The Very Bottom’ as Carrier Earnings Plunge
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 …
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Iron Jumps as Brazil Virus Cases Stoke Supply Concerns
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 …
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FIS Capesize Technical Report
FIS Capesize Technical Report Technically bearish with limited downside as the index already has a USD 2k handle. Up USD 402 today would suggest the index is entering a countertrend move, however price that fails at or below USD 7,330 remains vulnerable to further tests to the downside. To view the full report please click …
Iron Ore Offshore June 20 Morning Technical Comment – 240 Min Chart
China April Crude Steel Output Rose 0.2% Y/y to 85.03m Tons
China’s statistics bureau releases industrial output data. Crude steel output in April rose 0.2% y/y to 85.03m tons Crude steel output in Jan.-April rose 1.3% y/y to 319.46m tons Steel products output in April rose 3.6% y/y to 107.01m tons Steel products output in Jan.-April fell 0.2% y/y to 374.39m tons Primary aluminum output in April rose 1.5% y/y to …
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