FIS API Blog
American soybean exporters sold several cargoes to Chinese state-run buyers, according to people familiar with the matter, showing that some transactions are still going through even after officials in Beijing ordered a pause in some purchases. Shippers sold as many as four cargoes of U.S. soybeans from the new crop, said the people, who asked not …
Continue reading “American Exporters Sell Soy to China Despite Rising Tensions”
The decision to keep Chinese factories shut after the Lunar New Year sent shudders through the giant mines of Brazil and Chile that feed them. Now, with China getting back to work and Latin America the new virus hotspot, concern is shifting from demand to supply. Iron-ore shipper Vale SA had a scare last …
Continue reading “New Virus Hotspot Latin America Houses World’s Biggest Mines”
Iron ore futures soared on Monday after latest data indicated that China is recovering robustly from the coronavirus pandemic. The Caixin/Markit Manufacturing Purchasing Manager for May came in at 50.7, better than both market estimates and the reading of previous month of 49.6 and 49.4 respectively, indicating that China is expanding faster than expected. …
Continue reading “Iron ore soars on China recovery, supply fears”
Market participants were in doubt if the Capesize market would continue to enjoy higher rates over potential supply outages from Brazil. The expected lower volume from Brazil was met with high iron ore prices that firmed up rates as the Capesize 5 time charter average jumped by $141 to $3,369 on Friday. The jump was …
Continue reading “Capesize rates gains despite mixed market outlook”
Chinese futures started the week on bullish note, amid market supply concerns and better economic data from China. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked up by 3.22% day-on-day to RMB 752.50 per tonne on Monday. Following the rally, the steel rebar contract on the Shanghai …
Brent crude was unchanged at $37.84 a barrel, in the first day of trading in the contract with August as the front month. WTI crude futures for July delivery were at $35.53 a barrel, up 4 cents, or 0.1%, by 0629 GMT. OPEC+ is set to discuss a short extension of its current output cuts, …
Continue reading “Oil tries again to accentuate the positives”
Copper in Shanghai headed for its best close since March in a relief rally after U.S.-China tensions eased and manufacturing data from the Asian nation pointed to a continuing slow recovery. President Donald Trump’s threatened new measures against China proved weaker than expected, easing a major source of market jitters over the past week. That left …
Continue reading “Copper Rallies After Trump Remarks, China Data”
Soybean futures in Chicago advanced as the dollar extended declines and President Donald Trump stopped short of spelling out tough new sanctions against China over Hong Kong and kept the phase one trade deal with Beijing intact. Corn increased, while wheat snapped two days of gains. The Bloomberg Dollar Spot Index tumbled to the weakest in …
Continue reading “Soybeans Climb as Dollar Drops and Trump Keeps Trade Deal Intact”
Iron ore’s surge, with its latest jump to three-digits, is set to persist in the short term powered by supply concerns, before a market surplus in the second half spells a decline for the steelmaking material. Physical spot ore surged to $101.05 a ton on Friday, the highest since August, according to Mysteel Global. Elevated steel …
Continue reading “Iron Ore Seen Gripping On to Surge Before Eventual Descent”
When China sneeze, the world catches cold, as the saying goes. However, if China economy recovers, how will the global market react? Once again, there were signs of recovery for the country’s economic after it was heavily embattled by the coronavirus pandemic earlier this year. In May, both the official and private Purchasing Manufacturing Index …
Continue reading “China’s speedy recovery boosts PMIs in May”
