Category archives: News

Oil Through the Looking Glass 24.11.2020

*Oil Hits Highest Since March Collapse on Vaccine* Oil prices touched just under the $47 per barrel mark as the hopes of a vaccine and a Biden White House supported prices from mid-November. Three vaccines have emerged with a high rate of efficacy in preventing the worst symptoms of COVID-19, which has had a positive …

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DCE flattens over market uncertainty

Iron ore futures traded flat on the choppy trading session with bullish opening momentum, but only to ease toward afternoon closing session. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange were flat day-on-day to RMB 876/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange then went …

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Capesize rates receive support from firm market

Capesize freight rates continued to gain upward momentum on improving physical market and market optimism. The Capesize 5 time charter average then inched up by $124 day-on-day to $12,021 on Monday, due to better freight rates in both basins. The Baltic Dry Index (BDI) followed the market positivity and went up by 1.83% or 21 …

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