*Fuel Demand to Remain Under Pressure* OPEC predicts that demand for fuel will continue to struggle into the second half of the year due to the effects of the virus. The group has kept its forecast for oil consumption unchanged predicting a 9% fall in demand, however it cut its supply needs by 2.17 mbd. …
Category archives: News
FIS Castaway – Eps.12 – Unprecedented Coverage in Unprecedented Times
This week the group discuss supply and demand in crude, freight, iron ore, and copper markets. We explore the reasons behind the freight markets jump, oil’s crawl upwards, and iron ore’s price stall, among other market news and trends. https://freightinvestorservices.com/blog/fis-castaway-eps-12-unprecedented-coverage-in-unprecedented-times/
Oil Through the Looking Glass 17/6/20
*Crude Stocks and Virus Cases* This morning we read that the API announced their prediction of US stock changes as a build of 3.86 mil bbls. It’s not as big as previous predicted builds we’ve seen recently, but it’s a build nonetheless, and has added to negative sentiment overnight that caused prices to fall. We …
DCE corrects amid second wave of coronavirus
Chinese futures faced a correction on Wednesday after a recent rebound, due to market concerns over second wave of coronavirus in Beijing. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, dropped by 1.22% day-on-day to RMB 766.50 per tonne on Wednesday. Meanwhile, the steel rebar contract on …
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Capesize surges to year-high level on strong iron ore demand
Capesize rates hit a record high for the year as strong iron ore demand continue to support shipping demand. The Capesize 5 time charter average reached $14,786 on Tuesday, the highest level in the year and up $1,489 at day-on-day basis. Buoyed by the robust Capesize market, the Baltic Dry Index shot up beyond the …
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DCE rises on higher steel output
Chinese futures rose higher on Tuesday, buoyed by higher steel production in China from strong domestic construction demand. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, which increased by 1.03% day-on-day to RMB 781 per tonne on Tuesday. However, the steel rebar contract on the Shanghai Futures Exchange, …
Capesize moves up despite slight cooldown
Capesize rates moved up again on bullish market sentiments for both the Pacific and Atlantic basins. The Capesize 5 time charter average rose by $887 to $13,297 on Monday, reaching new highs for the prompt, while testing the recent highs on Q4 and Cal 21. The Baltic Dry Index also increased by 5.42% to 973 …
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PMX Jul v Q3 20
PMX Jul v Q3 20 To view the full report please click on the Link
Iron ore futures fall as China steel demand slows, virus cases rise
Iron ore futures fell sharply on Monday on concerns over China’s recovery. Data released on Monday showed China churned out a record of 92.27 million tonnes of steel. According to SteelHome data, iron ore port inventories fell to 107.75 million tonnes last week, the lowest since October 2016. While the decline in port inventories …
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DCE flats on lower steel demand and rising shipments
Chinese futures stayed virtually flat with gains at the morning session being offset by selloff in the afternoon session. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, was flat at RMB 762.50 per tonne on Monday. The steel rebar contract on the Shanghai Futures Exchange, followed the …
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