Category archives: News
Fuel Oil Daily Evening Report
FIS Castaway Podcast Episode 17
Nervous you don’t know enough about Air Freight Futures? Surely you can’t be serious…. Tune in to this week’s episode of FIS Castaway to learn more on AFFAs, and get the usual commodity market analysis from the FIS team. 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: freightinvestorservices.com/castaway-disclaimer/
FIS Singapore Iron Ore Derivatives Report 22/07/2020
Iron ore futures slumped on Wednesday morning in London on fresh concerns over rising US-China tensions after US forced the closure of the Chinese Consulate at Houston. Iron ore futures initially held firm, with Aug hovering around mid-108 despite China’s Ministry of Industry and Information Technology warned on Tuesday that current iron ore prices …
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Steel and Scrap News
*Physical scrap reaches one-month high Another busy week on the physical front with the latest fixture completed by a Baltic based seller at levels $5 up from last done. The 35kt cargo included 29kt HMS 80:20 and 6kT bonus scrap, transacted at $265/t CFR and $275/t CFR respectively, with first-half August shipment. Scrap futures have …
Oil Through the Looking Glass 22/7/20
*Narrowing Fuel Oil Contango The dropping contango structure of the fuel oil curve may encourage traders to offload stored supplies of fuel to protect against falling future margins. The front Aug/Sep spread was marked at flat this morning, as the VLSFO market followed the lead of the HSFO in moving from contango back into backwardation. The …
Capesize rates drag down by high tonnage list
Capesize rates spiraled downward due to high tonnage list that resulted weakness in the Pacific market. As such, the Capesize 5 time charter average dropped further by $1,834 day-on-day to $22,635 on Tuesday, after a steep sell off down the curve during late afternoon session. Following the decline, the Baltic Dry Index (BDI) slipped by …
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Steel & Scrap Morning Report
DCE gains on better H2 outlook
Iron ore future rose for the second consecutive day on better market outlook on anticipation of improved steel demand after rainy season in China. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange continued the upward trend with gains of 1.14% or RMB 9.50 day-on-day to RMB 841.50 a tonne on Wednesday. …
FIS Fuel Oil Morning Report 22/07/2020
Brent futures tumbled 35 cents, or 0.8%, to $43.97 a barrel by 5:41 am GMT, and WTI futures plunged 39 cents, or 0.9%, to $41.53. Front-month September ICE Brent futures briefly touched a four-month high above $44.80/b in the US trading sessions as investor optimism was buoyed by promising results from multiple COVID-19 vaccine trials …