Category archives: News

Fuel Oil Morning Report 01/03/21

Oil prices rebounded more than $1 on Monday after the U.S. House of Representatives passed a huge stimulus package, although a drop in China’s February factory activity growth capped gains. Brent crude futures for May rose $1.07, or 1.7%, to $65.49 per barrel by 0410 GMT. The April contract expired on Friday. U.S. West Texas …

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Daily Capesize Review 26/2/21

Capesize freight rates continued its downward movement, as the physical market flattened out in both basins. The Capesize 5 time charter average then dropped by $269 day-on-day to $11,934 on Friday, as liquidity dried up in the physical market. The Baltic Dry Index (BDI) also dipped by 1.47% or 25 points to 1,675 readings, amid …

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Iron Ore DCE May Daily Technical Review 1/3/21

Verdict – Short-term neutral. DCE iron ore corrected and price movement were slow after Chinese New Year. The first support on 1089.5 was higher than 1041, which was the lower bound of gap created during the first day after Chinese New Year. However hourly candles created a descending tunnel with lower highs and lows. Hourly …

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Ferrous Daily Physical Review 1/3/21

Ferrous Market –    In the year 2020, China crude steel production 1.06 billion tonnes, up 7% y-o-y. Steel production 13.25 billion tonnes, up 10% y-o-y. China export 53.67 million tonnes of steel, down 16.5% y-o-y. Import steel 20.23 million tonnes, up 19.8% y-o-y. –    Steel bank construction steel inventory 9.81 million tonnes, up 9.14% w-o-w. …

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