Category archives: News

Fuel Oil Morning Report 07/05/21

Brent crude futures for July were at $68.47 a barrel by 0338 GMT, up 38 cents, or 0.6%, while U.S. West Texas Intermediate (WTI) crude for June rose 38 cents, or 0.6%, to $65.09. Both Brent and WTI are on track for a second weekly gain.   Data released this week regarding economic growth for …

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Daily DCE Review 7/5/21

Iron ore futures continued to rise for the second consecutive day after the long holidays as trade participants remained bullish on steel demand. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then rallied up by 6.37% day-on-day or up RMB 73.50 to RMB 1,226.50/mt on Friday. The steel rebar …

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Daily Capesize Review 6/5/21

Capesize freight rates dived sharply upon political risks with worsening relations between Australia and China and its impact on the iron ore trades. The Capesize 5 time charter average then reversed into huge losses and went down by $1,965 day-on-day to $42,852 on Thursday. The Baltic Dry Index (BDI) also dropped by 1.65% or 54 …

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Iron Ore DCE Sep Daily Technical Review 7/5/21

Verdict – Short-term neutral to bullish. DCE iron ore September contract refreshed historical high and maintain strong movement. Iron ore futures hourly candles failed to breakthrough intra-day high at 1231.0 level. Hourly CCI retreated to the bound between neutral and bullish area from a two-week-high, which created a bearish divergence with the strong price movement. …

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Daily Virtual Steel Mill Report 7/5/21

Market Verdict on Iron Ore： ·         Iron ore neutral to bullish. Macro ·         Commodity market witnessed a massive growth in May since a concern on Indian pandemic spread caused a new round of chain-effect. In addition, China-Australia tension also contribute to the metals growth. ·         IMF indicated world countries need to be aware of the …

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