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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Steel & Scrap Morning Report 24/11/20
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Base Morning Intraday Note
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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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Fertilizer Financial Markets Commentary/Curves
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Morning Oil Report 24/11/20
Brent crude futures rose 43 cents, or 0.9%, to $46.49 a barrel by 0522 GMT, while U.S. West Texas Intermediate crude rose 45 cents, or 1.1%, to $43.51 a barrel. Yesterday marked a big step in the administration of Biden, where the handover of power began from Trump in advance of the president-elect due …
FIS LONDON COKING COAL MARKET REPORT
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European Close 23-11-20
Steel margins remains supported at CNY 301; however, the iron ore market has now started to come under pressure with yesterday’s futures closing 1.12 % lower at USD 123.35. Price dropped from a six year high after BHP flagged near-term downside risks to Morgan Stanley at a roundtable last week. BHP cited a rebound in …
Supramax & Handysize FFA Daily Report
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Capesize & Panamax FFA Daily Report
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