What is going on with this iron ore market? How come freight is flying again? Why is nothing moving on oil? Memes aside, join the team to discuss the week’s movements and idiosyncrasies. 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 …
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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 …