Category archives: News

DCE inches up on better buying interest

Iron ore futures went up higher following a late rally in the afternoon session due to better buying interests. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 1.40% day-on-day to RMB 797 per mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange also inched up …

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Ferts in Focus 21/10/2020

*RCF requests extension on tender offers* The issuance of LOIs was expected to start this week, and round out India’s latest urea purchasing tender. Almost 2.2mn tonnes are believed to have been accepted against RCF’s counterbids; however the importer requested a two day extension on the validity of offers Monday (when they were due to …

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Morning Oil Report 21/10/20

Brent crude futures dropped 32 cents, or 0.8%, to $42.30 a barrel by 0418 GMT, after falling 31 cents on Monday. WTI  futures fell 26 cents, or 0.6%, to $40.57 a barrel, after losing 5 cents on Monday.   Oil steadied yesterday as hopes of a vaccine were nearing which would potentially ease some lockdowns, …

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Capesize rates slide despite improving paper market

Capesize freight rates continued the downward slide despite some improvement in the paper market. The Capesize 5 time charter average then fell by $1,281 day-on-day to $17,121 on Tuesday, but managed to send some positive signals to shipowners due to the improving paper market. However, the physical market remained weak and dragged down the Baltic …

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European Close 20/10/20

Iron ore is making hard work of its upside push at this point with DCE futures finishing the night session up CNY 6.5 at 692. The offshore came under pressure whilst the DCE was closed with the night session leaving the futures basically unchanged from the previous day’s close.   Rhetoric for iron ore bulls …

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