Iron Ore DCE Jan Daily Technical Review 25/8/21

Verdict – Short-term neutral. DCE iron ore January contract correct slightly during the day. Hourly stochastic KD created dead cross in the second hour of this Asian morning. CCI corrected for consecutive 6 hours. Hourly MACD also flattened. However daily MACD potentially create gold cross. The short-run and mid-run technical signals were conflicting at the …

Daily Virtual Steel Mill Report 25/8/21

Market Verdict on Iron Ore: ·         Iron ore short-run neutral. Macro ·         From January to July, China issued 3997.9 billion yuan of local government bonds, a year-on-year increase of 6.37%. In July, the country issued 656.8 billion yuan of local government bonds. About 50% of the new special bonds issued by local governments from January …

Morning Fuel Oil 25/08/21

Morning Oil Report     Brent crude futures dropped 25 cents, or 0.4%, to $70.80 a barrel by 0525 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 28 cents, or 0.4%, to $67.26. Both benchmark contracts rose by about 8% over the previous two days, erasing most of the slump from a seven-day …

Fertilizer Market Report 24/08/21

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Tanker Morning Report 25/08/21

News Headlines:     Oil retreats after two-day rally on supply issues (Reuters)     Oil prices fell on Wednesday, taking a breather after a strong rally this week spurred by the loss of a quarter of Mexico’s production and signs that China, the world’s biggest importer, has curbed a recent coronavirus outbreak. ANZ commodity …