Big questions have been asked in recent weeks about the iron ore rally, with many financial institutions forecasting that we will see a weakening of prices in the second half of 2020. Brazil continues to have serious control issues with COVID-19 and seemingly no plan to lockdown the country on a grand scale. Vale won …
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DCE corrects amid market uncertainty
Chinese futures slid at the start of the week as trade participants seek for clearer market directions. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, went down by 2.21% to RMB 753.50 per tonne on Monday. Likewise, the steel rebar contract on the Shanghai Futures Exchange also slipped …
FIS Steel & Scrap Update – 22nd June
Turkish import prices retreat $8 since Wednesday Jul and Aug scrap futures trade $257/t and $260/t respectively Turkish import prices have softened $8 since last Wednesday amid a slow up in physical buying activity. The scrap futures curve continues to hold its relatively flat nature, July futures traded at $257/t, whilst August printed at $260/t …
Oil Through the Looking Glass 22/6/20
*Crude Holds Above $42* Oil this morning is holding onto recent gains, staying above the $42 mark on Brent. Brent crude’s prompt spread was in backwardation for a third day, a bullish market structure that indicates tightening supply. It flipped from contango on Thursday for the first time since March. Meanwhile in the US oil …
FIS Fuel Oil Morning Report 22/06/2020
Brent crude fell 10 cents, or 0.2%, to $42.04 a barrel by 0655 GMT, while U.S. crude was at $39.72 a barrel, down 11 cents, or 0.3%. Both contracts rose about 9% last week and Brent crude futures have flipped into backwardation, so that oil for immediate delivery costs more than that to be provided …
Fuel Oil Daily Evening Report
Supramax & Handysize FFA Daily Report
Capesize & Panamax FFA Daily Report
Positive Outlook from U.S. Steelmakers
A traumatic start to the year for U.S. steel makers may now be behind them after some of the largest producers offered positive outlooks for the rest of the year. Non-residential construction in the U.S has remained resilient compared to the consumer sector in recent months. With it looking increasingly like the worst of …
Iron ore holds at $100 as Brazil supply fears ease
Iron ore futures held at around $100 on Friday as supply concerns eased. Latest data showed that Brazil’s iron ore exports increased by 1.4 million tonnes during the first nine days of Jun to 1.64 million tonnes per day. Meanwhile, Vale is gradually resuming operations at its Itabira complex after receiving the green …
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