DCE rallies on restocking demand amid market uncertainty

Iron ore futures rallied on robust restocking demand, regardless of market concerns over rising coronavirus cases and harsh winter conditions that disrupted logistics. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then rose by 2.96% on-day or RMB 30.50 to RMB 1,061.50/mt on Thursday. The steel rebar contract on the Shanghai …

Morning Oil Report 7/1/21

Brent crude was up 40 cents, or 0.7%, at $54.70 a barrel by 0512 GMT before pushing up to highs of $54.85 at 0700GMT, after gaining 1.3% overnight. U.S. West Texas Intermediate (WTI) gained 43 cents, or 0.9% to $51.06. The contract rose 1.4% on Wednesday.   EIA week ending 1/1 Crude oil: -8.0M Gasoline: …