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Category archives: News
Oil Through the Looking Glass 20/8/20
*Crude Stocks Fall While Imports Rise The EIA reported yesterday that crude inventories fell by 1.6 million barrels in the week to Aug. 14 to 512.5 million barrels, less than analysts’ expectations in a Reuters poll for a 2.7 million-barrel drop. This drop came despite a rise in net imports of 1.1 million bpd …
DCE dips on cautious market sentiment
Iron ore futures ended the bullish run after iron ore prices reached a six year high recently on robust Chinese steel demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dropped by 1.40% or RMB 12 day-on-day to RMB 848 per tonne on Thursday. Similarly, the steel rebar contract on …
Morning Oil Report 20/8/20
Good morning all. Brent futures were down 36 cents, or 0.8%, at $45.01 a barrel by 4:42 am GMT, WTI futures were down 38 cents, or 0.9%, at $42.55 a barrel. The US Federal Reserve released the minutes of its July Federal Open Market Committee meeting on Aug. 19 that highlighted the COVID-19 pandemic …
Capesize rates weaken despite record-high iron ore prices
It was another softening day for the Capesize paper market despite robust steel demand in China that led iron ore prices to rise to a six-year high. The Capesize 5 time charter average went down by $225 day-on-day to $19,468 on Wednesday, despite another round of fixing spree by Brazil’s Vale for the Brazil to …
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London Iron Ore Market Report
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Supramax & Handysize FFA Daily Report
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Capesize & Panamax FFA Daily Report
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Evening Oil Report 19/8/20
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Steel and Scrap News 19/8/20
HMS 80:20 Turkish Scrap The week started with the Deepsea Turkish import scrap market softened slightly from Friday, as mills looked to push for lower workable prices, while recycler offers remained stable. Prices edge down in wait for demand to pick up. Suppliers keep offers stable with buyers staying on the side-lines causing prices to …