Category archives: News

ENGINE: East of Suez Bunker Fuel Market Update 5/8/21

Bunker prices have slumped to two-week lows in major East of Suez ports, as Brent fell below $70/bbl earlier today under pressure from a build in US crude stocks and lockdown measures in China.   Changes on the day to 16.00 SGT (08.00 GMT) today: VLSFO prices down in Fujairah ($20/mt), Zhoushan ($18/mt) and Singapore …

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Daily DCE Review 5/8/21

Iron ore futures fell to two-month low on the day session, after a selloff from sluggish steel consumption. The futures of Dalian Commodity Exchange (DCE) for September delivery then slumped by 4.72% day-on-day or down RMB 44 to RMB 888.50/mt, during the day trading session on Thursday. The rebar futures, however moved flatly and inched …

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Iron Ore DCE Jan Daily Technical Review 5/8/21

Verdict – Short-term neutral to bearish. DCE iron ore September rolled to January during this week. The big correction with greater volume during a rolling period indicated major investors were slight bearish in the after market of iron ore. Hourly chart candles entered stable over the afternoon session. A hold up on 873.0 level would …

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Daily Virtual Steel Mill Report 5/8/21

Market Verdict on Iron Ore： ·         Iron ore short-run neutral to bearish. Macro ·         U.S. July Markit service PMI 59.9, est. 59.8, last 59.8. Composite PMI 59.9, last 59.7. ·         The three departments of China encouraged four kinds of household appliance manufacturers such as TV sets, refrigerators, washing machines and air conditioners to carry out …

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FIS Fuel Oil Morning Report 05/08/21

  Brent crude oil futures rose by 19 cents, or 0.3%, to $70.57 a barrel by 0438 GMT, while U.S. West Texas Intermediate (WTI) crude futures increased by 23 cents, or 0.3%, to $68.38 a barrel. Both benchmarks fell by more than $2 a barrel on Wednesday.   EIA week ending 7/30 Crude oil: +3.6M …

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