Category archives: News

Morning Oil Report 13/11/20

Brent crude was down 51 cents, or 1.17%, at $43.01 a barrel as of 0751 GMT, after dropping 0.6% on Thursday.   EIA data released on Thursday showed a larger than expected build of crude stocks of +4,3 million barrels in the week ending 6th November. This lead oil prices to fall slightly into Friday, …

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DCE slips on declining steel prices

Iron ore futures opened low but managed to catchup at the afternoon session before closing at slight dip for the day. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange were almost flattish and booked a small loss of 0.83% or RMB 7 day-on-day to RMB 832.50/mt on Friday. The …

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Capesize rates correct again on low shipping activities

Capesize freight rates dipped for slight correction as the physical market continued to soften on scant shipping activities. The Capesize 5 time charter average fell by RMB 525 day-on-day to $12,854 on Thursday, as freight rates came under pressure on bearish market sentiment. The Baltic Dry Index (BDI) then dropped by 1.49% or 17 points …

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