*Oil Falls After IEA Cast Doubt on Quick Demand Recovery* The IEA have casted doubt over the recovery of oil demand amid surging infection across Europe and America, with the UK being the first country to reach the miles stone of 50,000 deaths. New York has ordered bars and restaurants to close early as cases …
Category archives: News
Freight Intraday Morning Technical
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Daily Agri – Freight Report
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DCE stabilizes on decent steel demand
Iron ore futures saw a selloff at the afternoon session but managed to stabilize at the close to gain some ground. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange were almost flat with a small rise of 0.18 % or RMB 1.50 day-on-day to RMB 835.50/mt on Thursday. The …
Steel & Scrap Morning Report
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Fertilizer Financial Markets Commentary/Curves
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FIS Fuel Oil Morning Report 12/11/2020
Brent crude futures rose 18 cents, or 0.37%, to $43.97 a barrel at 0726GMT after the bullish sentiment that has been floating around most markets over the past week due to the news of a vaccine that has been tested to be 90% effective. News from the Algerian Energy minister says that OPEC+ current …
Capesize rates slip into red from selloff
Capesize freight rates plunged after a selloff as market sentiment turned bearish with few fixtures done at lower rates. Thus, the Capesize 5 time charter average fell by RMB 1,402 day-on-day to $13,379 on Wednesday, as the 5TC index lost around 10% at one point before much stabilization later. The Baltic Dry Index (BDI) then …
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Base Morning Intraday Note
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European Close
Upside price action is slowing down on the offshore futures in iron ore. The daily candlesticks are decreasing in size warning that momentum is slowing based on price . However, the trend remains bullish with the evening session trading up to USD 121.15. Steel production remains strong whilst exports are down 6 million tonnes on …