Category archives: News

FIS Fuel Oil Morning Report 08/03/21

Brent crude futures for May hit $71.38 a barrel in early Asian trade, the highest since Jan. 8, 2020, and were at $70.96 a barrel by 0611 GMT, up $1.60, or 2.3%. U.S. West Texas Intermediate (WTI) crude for April rose $1.47, or 2.2%, to $67.56. The front-month WTI price touched $67.98 a barrel earlier, …

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Iron Ore DCE May Daily Technical Review 8/3/21

Verdict – Short-term neutral. DCE iron ore may contract tested high during the last minute of Friday night session and correct during Asian morning. Iron ore saw strong resistance between 1168- 1185 area. Hourly MACD flattened below 0 axis. Hourly CCI started to correct slowly. Major range bound in between 1112.5- 1180.0 most of time …

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Ferrous Daily Physical Review 8/3/21

Ferrous Market –    Steelbank construction steels inventory 10.25 million tonnes, up 4.51% w-o-w. HRC inventories 3.27 million tonnes, up 3.38% w-o-w. –    MySteel: January and February China export 10.14 million tonnes of steels, up 29.9% y-o-y. China import 2.395 million tonnes of steel, up 17.4% y-o-y. –    China custom statistic indicated January and February iron …

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China Wuxi Cobalt Index Weekly Technical Review 8/3/2021

Verdict – Short-term neutral. China Wuxi Cobalt created big volatility from last Thursday and Friday. However as whole metals sector tends to narrow the range, Cobalt potentially flattened during the this week. CCI rebounded from the yearly-low. Slow stochastic KD potentially create a gold cross above oversold area. Technical signals were indicating an exhaustion on …

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