It is one of the best-known Beatles songs from their final studio album Let It Be, but it also encapsulates perfectly the challenge many commodity markets face as they begin to recover from the enormous disruption of Coronavirus. The pandemic has impacted every metric you can think of: quantitative easing, government debt, unemployment, share …
Category archives: News
DCE flats on low port inventory
Chinese futures changed little as the market tried to end the week on positive note with huge drawdown of port inventory. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, rose slightly by 0.13% day-on-day to RMB 768 per tonne on Friday. Likewise, the steel rebar contract on …
Brent August 20 Morning Technical Comment – 240 Min
DCE drops for the second day on easing Brazilian supply
Chinese futures slid for the second consecutive day due to supply easing as Vale reopened its Itabira complex. As such, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, dropped by 1.03% day-on-day to RMB 765 per tonne on Thursday. However, the steel rebar contract on the Shanghai Futures …
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Capesize rates chase for new height
Capesize rates continued to chase new height for the year, buoyed by the strong shipping and iron ore demand. The Capesize 5 time charter average rose by $4,250 day-on-day to $19,036 on Wednesday, another year-high as the paper market saw over 8,000 lots change hands by the close of trading day. Likewise, the Baltic Dry …
Iron Ore Held in Check
Iron ore futures remain unchanged overnight Weds/Thurs with the July futures holding above USD 101.00 level (as of 06.15 UK time) having traded as low as USD 99.41. The world’s seconds largest commodity by volume followed the Shanghai Composite index in a holding pattern as traders wait in anticipation of the next round of RRR …
Oil Through the Looking Glass 18/6/20
*Fuel Demand to Remain Under Pressure* OPEC predicts that demand for fuel will continue to struggle into the second half of the year due to the effects of the virus. The group has kept its forecast for oil consumption unchanged predicting a 9% fall in demand, however it cut its supply needs by 2.17 mbd. …
FIS Castaway – Eps.12 – Unprecedented Coverage in Unprecedented Times
This week the group discuss supply and demand in crude, freight, iron ore, and copper markets. We explore the reasons behind the freight markets jump, oil’s crawl upwards, and iron ore’s price stall, among other market news and trends. https://freightinvestorservices.com/blog/fis-castaway-eps-12-unprecedented-coverage-in-unprecedented-times/
Oil Through the Looking Glass 17/6/20
*Crude Stocks and Virus Cases* This morning we read that the API announced their prediction of US stock changes as a build of 3.86 mil bbls. It’s not as big as previous predicted builds we’ve seen recently, but it’s a build nonetheless, and has added to negative sentiment overnight that caused prices to fall. We …
DCE corrects amid second wave of coronavirus
Chinese futures faced a correction on Wednesday after a recent rebound, due to market concerns over second wave of coronavirus in Beijing. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, dropped by 1.22% day-on-day to RMB 766.50 per tonne on Wednesday. Meanwhile, the steel rebar contract on …
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