Category archives: News

Iron Ore DCE Jan Daily Technical Review 18/11/21

Verdict – Short-term neutral. DCE iron ore Jan22 started to consolidate weakly after refreshed listed low during today. Major previous support become resistance at 531.0 level after breakdown. Hourly slow stochastic KD retreated to bearish territory. Hourly MACD deepened below 0 axis. Short-run signals were indicating a neutral sentiment in this market. The first support …

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Daily Virtual Steel Mill Report 18/11/21

Market Verdict on Iron Ore： ·         Neutral. Macro ·         Reuters: Biden government seek the top oil producing countries to release some crude oil reserves to help decrease oil price and stimulate economy booming. Iron Ore Key Indicators: ·          Platts62 $89.95, -0.45, MTD $93.45. Iron ore seaborne market gradually return stable during the week, as several …

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Oil and Products Morning Report 18/11/21

At 10:35 am Singapore time (0214 GMT), the ICE January Brent futures contract was down 30 cents/b (0.37%) from the previous close at $79.98/b, while the NYMEX December light sweet crude contract fell 68 cents/b (0.87%) at $77.68/b. Both benchmarks had shed 2.6%-3% in value overnight.   EIA week ending 11/12 Crude oil: -2.1M Gasoline: …

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Daily DCE Review 18/11/21

Iron ore futures closed in negative regions, despite a late morning rally to push prices higher, amid thin steel margins environment. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 5.10% day-on-day or down RMB 27.50 to RMB 511.50/mt, during the day trading session on Thursday. The rebar futures also inched …

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Daily Capesize Review 17/11/21

Capesize freight rates extended losses in seasonally lean period, amid weak iron ore and steel demand in China. The Capesize 5 time charter average, then slumped by $2,653 day-on-day to $25,406 on Wednesday, amid a selloff session. The Baltic Dry Index (BDI) then dropped by $161, down by 6.21% day-on-day, to $2,430, due to softening …

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Evening Tanker FFA Report 17/11/21

  Trades Recap:   Another quiet day for TC2 as Dec continued its decline to 150 with 146 trading later. TC5 Dec also came under pressure trading at 132 in the morning, before trading 130.5, 130, 129 before 128 with Cal22 trading at $26.75/mt. Q1 came off slightly to $25.6/mt, TC6 Dec came off 8pts …

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