FIS API Blog
Iron ore futures surged on Wednesday on renewed concerns over the worsening coronavirus crisis in Brazil. Unlike many other countries, Brazil has not enforced a lockdown, resulting in a widespread increase of coronavirus infections. It was reported that there has been a sudden spike in coronavirus cases in the Brazilian state of Para, where around …
Continue reading “Iron ore futures surge on Brazil virus fears”
Iron ore futures were softer on Tuesday as data showing higher shipments from Australia and Brazil eased off supply concerns. According to data by Mysteel, shipments from Australia and Brazil were up by 4.08 million tonnes from a week earlier to 26.03 million tonnes. Furthermore, port overhauls in Australia and Brazil was completed on …
Continue reading “Iron ore futures fall as higher shipments ease supply fears”
The crude market was buoyed by comments from Russia reporting its oil output had nearly dropped to its target of 8.5 million barrels per day (bpd) for May and June under its supply cut deal with OPEC. After a bank holiday yesterday and quiet trading, counterparties have come into the market this morning with …
Continue reading “Crude buoyed by Russia cuts, gasoil spreads flat”
Ferrous Sector Money-flow: DCE iron ore started to soften after open interest reached a yearly-high, indicating previous longs are taking gains. Coke became the leader of ferrous sector during previous week and early this week. DCE September iron ore total contract value was 65 billion Yuan, the peak in 2019 was 75 billion yuan. However, …
Continue reading “High volatility expected, but iron ore risks reversal”
The question that comes up more and more is when will we get a turnaround in the markets? This, of course, is the question on the lips of everyone from big fund traders all the way to small IG Index punters. At face value, it seems that for many markets the only way is up. …
Iron ore futures recovered from yesterday’s blip to trade above $95 as investors become increasingly concerned over the coronavirus crisis in Brazil. Brazil’s iron ore shipments had their slowest start to a year in the last five years. Brazilian miner Vale downgraded its production guidance early in the year, Morgan Financials Ltd noted that more …
Continue reading “Iron ore blips back on supply fears, stimulus hopes”
Iron ore futures retreated on Wednesday ahead of China’s Two Sessions meeting which is scheduled to convene tomorrow. Some profit-taking activities could be attributed to the decline as investors await the annual meeting for news of fresh impetus. Iron ore has enjoyed a stellar run of late, gaining over $13 since the start of …
Continue reading “Iron ore futures retreat as traders take profits ahead of Two Sessions”
Oil production from the top seven shale regions in the U.S. is set to tumble to levels not seen since 2018 as drillers scale back in response to the recent price collapse, the Energy Information Administration said. Crude output from seven major shale formations expected to fall by a record 197,000 barrels per day in …
Continue reading “Shale production tumbles as VLCC armada heads east”
Ferrous Sector Money Flow: DCE iron ore aggregated open interest is up 38.97% from April 29th and reached the highest level in Q2, coking coal decreased by 18.55% during the same period. Steel, coke and flat glass used in house construction remained stable on open interest. Investors should be aware of money flow out of …
Continue reading “China construction in the bubble, iron ore demand risk remains”
Further signs of weakness have appeared in the forward airfreight price, as rates out of Hong Kong into the US have completely collapsed. Congestion remains in Shanghai, as cargo gets backed up across a number of the core mainland Chinese airports. China has locked down a second city this week (Jilin), on reports of new …
Continue reading “Clear skies but airfreight outlook is anything but”
