Category archives: News
Speculation sees iron ore advance above $112/tonne
Iron ore futures advanced above $112 a tonne on Wednesday amidst of fresh waves of speculative trading seen in the market. Rebar and iron ore were supported after hearing that steel inventory is down this week. Steel inventory data by Mysteel is due to be released tomorrow. At the same time, there are signs that …
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Secret Iranian Oil
China and Iran recently signed a 25-year trade deal not surprising given that one is a major OPEC producer and the other one of the world’s largest importers of crude. The deal is worth $400billion, including oil quotas and gives China ‘first dibs’ on Iran’s exports. This would produce a large trade flow from …
India drives global urea markets
After a slight pause mid-week, following chaos then clarity around Chinese trade with India, urea markets resumed their rally into the end of last week. MMTC wrapped up their most recent tender on Friday, securing 700kmt of urea at prices $19 and $15 higher for the east and west coast respectively, than the previous purchasing …
Capesize rates make solid gains on bullish market
It was another bullish day for the Capesize market, with the physical market making solid gains to push up the freight rates. The Capesize 5 time charter average then rose by $1,636 day-on-day to $20,687 on Tuesday, with talk of C5 heading to $9.00 and the C3 rumoured to surge toward the $18.90. Following the …
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DCE continues winning streak on small gains
Iron ore futures booked slight gains on Wednesday to continue the rally for the third consecutive trading day on supply tightness issues. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange hiked upward by 0.40% or RMB 3.50 day-on-day to RMB 888 per tonne on Wednesday. However, the steel rebar contract on …
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