DCE continues to rise ahead of peak demand period

Iron ore futures rose for the third consecutive days since start of the week due to robust Chinese steel demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange hiked up by 0.88% or RMB 7.50 day-on-day to RMB 857 per tonne on Wednesday. However, the steel rebar contract on the …

Ferts in Focus 19/8/20

India’s RCF fares better than expectations The past week saw volume and prices confirmed into India’s most recent urea purchasing tender, with 958kmt of awards accepted at levels of $289/t cfr WC and $290.50 cfr EC. The volume was higher than most were expecting, with the Chinese participating in large volume (around 400kmt estimated to …

Morning Oil Report 19/8/20

Brent futures fell 33 cents, or 0.7%, to $45.13 a barrel by 4:18 am GMT, while West Texas Intermediate futures were down 21 cents, or 0.5%, at $42.68 a barrel.   The continued spread of COVID-19 worldwide remains the key drag on the short-term demand outlook. Global COVID-19 infections exceeded 22 million case counts while …

Another short trading week for Capesize

It was another short trading week for the Capesize market in view of the South Korean public holidays. Thus, the Capesize 5 time charter average slipped down slightly by $16 day-on-day to $19,900 on Monday, as the paper traded at very narrow range with thin volumes. Despite the flattish Capesize market, the Baltic Dry Index …