Category archives: News
Fuel Oil Daily Evening Report
FIS CASTAWAY – EPISODE 18
This week geopolitics takes centre stage as the team discuss escalating China-US tensions weighing on markets, along with outlining current market trends in all of FIS’s markets. Available now on the FIS website (www.freightinvestorservices.com/media ) Spotify https://open.spotify.com/show/7yMLsm5s8tLtrCQr7bG8wD?si=FW6Rvj9HRjClAx3vRjq8iw And Apple https://podcasts.apple.com/sg/podcast/fis-castaway/id1507094242 Disclaimer: This podcast is a marketing communication and is not based upon detailed analysis …
Steel and Scrap News
*Physical scrap moves higher on increased fixtures prior to Turkish holiday Turkish scrap import prices continued to strengthen this week, amid strong finished product demand. A Baltic based seller recently transacted an HMS 80:20 and bonus scrap cargo at $271/t and $281/t CFR respectively, a $5 increase over where physical was trading last week. However, …
Capesize rates brace for sharp rebound amid new Covid-19 wave
It was a choppy day for the Capesize rates as some market participants were concerned over a new wave of Covid-19 that might delay vessel schedules. However, the paper market is expected to make a sharp rebound with front end futures nearly up by $2,000 on Wednesday, following by increase of $1,500 on Tuesday, especially …
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Fertilizer Financial Markets Commentary/Curves
Steel & Scrap Morning Report
Tanker News Update 29/7/20
*Chinese Flooding China is currently experiencing its worst floods in 100 years with record rainfall levels since June. Areas straddling the Yangtze river banks are at risk of severe flooding if they haven’t already. Sinopec owns multiple refineries along the river so increased rainfall could cause serious issues. Potentially manifesting into catastrophic issues if the …
Ferts in Focus 29/7/20
MMTC back tendering immediately This past week saw India back tendering for urea straight after closing the previous round, following disappointing participation at less than 10% of their target. A tender was expected to be announced on short notice, but the one day turnaround between confirmation of acceptances and opening the next tender, once again …
DCE rebounds over tight supply
Iron ore futures inched up at the closing of the afternoon session over supply tightness of mid-grade ores among portside stocks. Thus, the most-traded iron ore for September delivery on China’s Dalian Commodity Exchange rose by 2.31% or RMB 19 day-on-day to RMB 841.50 per tonne on Wednesday. Then, the steel rebar contract on the …