Category archives: News

Morning Oil Report 29/10/21

At 10:00 am Singapore time (0200 GMT), the ICE December Brent futures contract was up 21 cents/b (0.25%) from the previous close at $84.53/b, while the NYMEX December light sweet crude contract rose 6 cents/b (0.07%) at $82.87/b.   Oil prices edged up on Friday but were headed for their first weekly losses in at …

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Daily DCE Review 29/10/21

Iron ore futures continued to slide on softer steel demand, as slow consumption contributed to higher mills’ steel stocks. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 5.56% day-on-day or down RMB 37.50 to RMB 637.50/mt, during the day trading session on Friday. The rebar futures however, rose by 0.80% …

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Iron Ore DCE Jan Daily Technical Review 29/10/21

Verdict – Short-term neutral to bearish. China thermal coal futures and coking coal futures all reached limit-down which bring back a bearish sentiment on all ferrous market. Iron ore corrected and breakdown important support level around 639.0 – 643.0 and went back to descending tunnel. Hourly MACD widened below 0 axis. Hourly CCI went into …

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Daily Virtual Steel Mill Report 29/10/21

Market Verdict on Iron Ore： ·         Neutral. Macro ·         China CCTV news: U.S. trade representative Katherine Tai seek to ease trade relations with China in a U.S. poultry conference. ·         U.S. Q3 GDP up 2% y-o-y, Q2 up 6.7%. The slowing down on GDP growth rate was far beyond expectation. Iron Ore Key Indicators: ·         …

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ENGINE: Americas Bunker Fuel Market Update 29/10/21

Americas bunker prices have declined further in several key locations, as Brent sheds $1/bbl in the wake of a big US crude inventory build.   Changes on the day to 09.30 CST (14.30 GMT) today: VLSFO prices up in Los Angeles ($3/mt), and down in Houston ($21/mt), New York and Balboa ($14/mt) and Zona Comun …

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Daily Capesize Review 28/10/21

Capesize freight rates came under pressures from sluggish demand, with market concerns over softening iron ore and coal prices. The Capesize 5 time charter average, then fell by $2,371 day-on-day to $37,669 on Thursday, following a series of corrections. The Baltic Dry Index (BDI) extended losses and dropped by $178, down 4.67% day-on-day, to $3,630, …

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