Category archives: News

Daily Capesize Review 1/9/21

Capesize freight rates continued its downward trajectory, with both basins came under selling pressures as tonnages began to return. The Capesize 5 time charter average, then fell further by $2,102 day-on-day to $46,987 on Wednesday, after much selling pressures. The Baltic Dry Index (BDI) followed the decline and dropped by $119, down 2.88% day-on-day, to …

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Iron Ore DCE Jan Daily Technical Review 2/9/21

Verdict – Short-term neutral. DCE iron ore January contract tested high and correct, as predicted yesterday as an oversold rebound. The hourly MACD potentially create gold cross in bearish area. However slow stochastic KD and CCI from hourly level were flattened. Short-run consolidating in the range box of 757.5- 789.5. The first support is 757.5, …

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Daily Virtual Steel Mill Report 2/9/21

Market Verdict on Iron Ore： ·          Neutral. Macro ·         U.S. ISM announced last month U.S. PMI reached 59.9. However the price indicator of Manufacturing industry dropped from 85.7 to 79.4 from July to August, created the eight month low, which potentially symbolized that inflation reached a roof area. ·         Germany central bank indicated that European …

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Morning Oil Report 02/09/21

At 10:40 am Singapore time (0240 GMT), the ICE November Brent futures contract was down 35 cents/b (0.49%) from the previous close at $71.24/b, while the NYMEX October light sweet crude contract was 43 cents/b (0.63%) lower at $68.16/b.   The OPEC+ alliance in its meeting Sept. 1 agreed to increase crude output by 400,000 …

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Morning Tanker FFA Report 2/9/21

News Headlines: OIL DAYBOOK EUROPE: OPEC+ Sticks to Agreed Plan for Supply Hikes (Bloomberg) OPEC and its allies agreed to stick to their existing plan for gradual monthly oil-production increases after a brief video conference. * OIL FUTURES: Oil Declines After OPEC+ Alliance Agrees to Return More Barrels     As OPEC+ Plans More Oil, …

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