FIS API Blog
OPEC+ sees tighter market in 2022, risks to oil demand growth The oil market will have a small surplus of just 0.4 million bpd in 2022, much less than forecast earlier, according to OPEC+, due to underproduction of its members, OPEC+ sources said. The report comes days ahead of an OPEC+ policy meeting …
Continue reading “OPEC+ Tightens Oil Market Outlook For 2022 01/09/22”
Verdict – Short-term neutral. DCE iron ore January contract tested low and recovered some loss as expected from last report. Iron ore closed at same level with yesterday. Hourly MACD narrowed below 0 axis. Hourly CCI created bullish divergence with candles. The last four candles proved a consolidation pattern, the four lows fell into …
Continue reading “Iron Ore DCE January Daily Technical Review 31/08/22”
Market Verdict on Iron Ore： • Neutral. Macro • ECB official indicated to increase previous interest hike from 50 bps to 75 bps. • China August Manufacturing PMI 49.4, est. 49.2, last 49.0. Iron Ore Key Indicators: • Platts62 $97.60, -4.15, MTD 104.94. Both seaborne and portside market saw a cooling down on …
Iron ore seaborne shipments from Rio Tinto, BHP, Vale, Fortescue Metals Group and Roy Hill, as well as from Saldanha port in South Africa, rose by 7.9% to 22.48 million mt in the week commencing Aug.21, according to Platts cFlow ship and commodity tracking software from S&P Global Commodity Insights. Average volumes over the previous …
Verdict – Short-term neutral. DCE iron ore January contract corrected significantly for the second trading day. Hourly MACD widened below 0 axis. Hourly slow stochastic KD entered oversold area. In short-run iron ore potentially test the effectiveness of major support on 672.0 level. The first support is 672.0. The first resistance is 700.0.
Market Verdict on Iron Ore： • Neutral. Macro • U.S. dollar index DXY refreshed new high yesterday at 109, a 20-year-high. Non-dollar currencies experienced fast depreciation in past two weeks. • China Automobile Associaiton: Jan- Jul auto-making profit 273.94 million yuan, down 14.4% on the year, improved 11.1% from Jan-Jun. The auto-making industry contribute …
India’s Supreme Court has raised the ceiling on annual iron ore production in the southern state of Karnataka, easing the curbs on the state’s iron ore industry for the second time this year. The top court raised the ceiling on iron ore mining from 28mn t in the district of Ballari to 35mn t, …
Continue reading “India’s Top Court Eases Karnataka Iron Ore Mining Curb 30/08/22”
Verdict – Short-term neutral. DCE iron ore January contract retreated with expanding volume, however the closing was higher than last trading day. The decrease in open interest indicated both previous buyers and sellers were leaving the market. The short-run high was confirmed at 736.5 area. Hourly CCI saw a rebound during last hour, along …
Continue reading “Iron Ore DCE January Daily Technical Review 29/08/22”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. central PCE increased 4.6% year-on-year, est. 4.7%, last 4.8%, refreshed the lowest since February 2021. • Jan- July above designated industrial value added amount at 4.89 trillion yuan, down 1.1% on the year. Iron Ore Key Indicators: • Platts62 $105.80, +3.55, MTD $105.49. …
President Joe Biden’s administration is pressing US refiners to rebuild inventories of gasoline and diesel as the production-disrupting Atlantic hurricane season heats up, rather than increasing record-high volumes of product exports. US energy secretary Jennifer Granholm, in a letter sent to refiners on 18 August, said historically low inventories of gasoline and diesel posed …
Continue reading “U.S. Pushes For Restraint On Fuel Exports 29/08/22”
