Category archives: News

Ferrous Trade Weekly Review 29/1/21

A total of 1,720,000 mt of iron ores was traded for the week ended Jan 29, up 16.22% as compared to previous week. During the week, there were some market concerns over reduced iron ore imports for 2021, as the Beijing policymakers had reportedly planned to reduce Chinese steel production to cut carbon emission. Nevertheless, …

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Daily DCE Review 29/1/21

Iron ore futures moved flattish throughout the trading day and closed lower at the close, due to market concerns over high steel stockpiles. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then fell by 2.03% day-on-day or RMB 20.50 to RMB 990/mt on Friday. The steel rebar contract on the Shanghai …

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Daily Capesize Review 28/1/21

Capesize freight rates slid further on weakening physical market, due to low shipping demand and bearish market outlook. The Capesize 5 time charter average then dropped further by $1,657 day-on-day to $16,133 on Thursday, following a short sharp selloff in the paper market. The Baltic Dry Index (BDI) also went down further by 4.55 % …

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Fuel Oil Morning Report 29/1/21

Brent crude futures for March rose 4 cents, or 0.1%, to $55.57 a barrel at 0520 GMT, after falling 0.5% in the previous session. The Brent March contract expires on Friday. The more active April contract rose 13 cents, or 0.2%, to $55.23. U.S. West Texas Intermediate (WTI) crude futures slipped 7 cents to $52.27 …

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Iron Ore DCE May Daily Technical Review 29/1/21

Verdict – Short-term neutral to bearish.   DCE iron ore closed similar with last closing, however market volume and interest decreased. Hourly MACD was narrowing below 0 axis. Hourly slow stochastic KD created gold cross above oversold area. Short-run technical signals were indicating the previous correction was slowing.   The first support is 959.0. The …

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Ferrous Daily Physical Review 29/1/21

Ferrous Market –    MySteel 45 ports iron ore inventories at 125.01 million tonnes, up 625,100 tonnes w-o-w. Daily evacuation 3.04 million tonnes, down 146,900 tonnes w-o-w. Australia iron ore 58.26 million tonnes, up 705,000 tonnes w-o-w. Brazil iron ore 43.71 million tonnes, up 109,200 tonnes w-o-w. 201 ships at ports, up 23. –    MySteel 14 …

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