Capesize freight rates rebounded on record high iron ore prices, which showed no signs of stopping due to the robust Chinese steel demand. The Capesize 5 time charter average then rose by $856 day-on-day to $41,514 on Monday, as market sentiment turned bullish with the meteoric rise of iron ore prices. The Baltic Dry Index …
Category archives: News
Morning Steel and Scrap Report 11/5/21
Good Morning, FOB China HRC The index jumped by $64/t on Monday (10.5.21) to US$1014/t, MTD US$946.17/t. Shanghai mainstream HRC ex-warehouse prices rose by Yn560/t to Yn6,620/t yesterday on heated market sentiment and active trade. Chinese mills are active in pushing up their export offers to follow the domestic price trend. Three …
FIS Weekly Virtual Steel Margin Report 11/05/21
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Morning Oil Report 11/5/21
U.S. West Texas Intermediate (WTI) crude futures fell 40 cents, or 0.6%, to $64.52 a barrel at 0247 GMT, after gaining 2 cents on Monday. Brent crude futures dropped 45 cents, or 0.7%, to $67.87 a barrel, after climbing 4 cents on Monday Reports of the hacking of the Colonial pipeline ensured that oil …
Capesize & Panamax FFA Daily Report 10/05/21
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Supramax & Handysize FFA Daily Report 10/05/21
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Fuel Oil Daily Evening Report 10/05/21
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London Iron Ore Market Report 10/05/21
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Singapore Iron Ore Report 10/05/2021
Market Commentary Iron ore futures surged more than 10% on Monday amid robust Chinese demand as well as optimism over global economic recovery, while the bilateral tensions between Australia and China also helped fired up the steelmaking ingredient. According to the China Iron & Steel Association (CISA), Chinese mills’ daily crude steel production went up …
Morning Steel and Scrap Report 10/5/21
FOB China HRC The index rose by $12/t last Friday (7.5.21) to US$950/t, MTD US$932.60/t. An east China mill sold 10,000t SAE grade pipe-making coils at $950/t fob last week. Some other deals were heard done at $960/t fob for SS400 HRC, but no further details could be confirmed. Two major Chinese mills …