Category archives: Ferrous
China stocks slide sparks iron ore sell-off
Iron ore futures saw losses on the back of the biggest fall of Chinese stocks in more than five months, as investors cooled down their buying spree on signs of policy tightening after the country’s economic growth in the second quarter beat expectations. This, coupled with some profit-taking activities on the back of the …
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DCE corrects amid mixed outlooks
Iron ore futures slipped slightly on Thursday, for correction after the recent rally amid mixed market outlook. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange dipped by 0.84% or RMB 7/mt day-on-day to RMB 826.50 a tonne. Likewise, the steel rebar contract on the Shanghai Futures Exchange also dropped by RMB …
Steel & Scrap Morning Report
Daily Ferrous Physical Review Jul 16th
Ferrous Market Updates – Mysteel mills inventory 16.13 million tonnes. Inventory turnover in 23 days. – MySteel Rebar Inventory: Rebar production 3.83 million tonnes, down 1.49% w-o-w. Mills inventory 3.31 million tonnes, down 3.22% w-o-w. Circulation inventory 8.42 million tonnes, up 2.99% w-o-w. – Economic Data – China Q2 GDP down 3.2% y-o-y, up 11.5% …
London Iron Ore Market Report
Iron ore futures yo-yo as China steel exports fall
Iron ore futures surged above 109 in London morning on Wednesday, reversing early losses in Asia, on fresh concerns of coronavirus outbreak in China. According to sources at port, a crew member in Lianyun Port was rumoured to have contracted the coronavirus, leading to fears of possible delays in ships unloading. So far, China …
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FIS Castaway
Episode 16 is all about cross commodities. Alistair Pettey, the new head of FIS’s cross commodity execution desk joins Chris, Alex and Tom to discuss new developments as well as the usual markets updates. 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
Steel and Scrap Update 15/7/20
Will we reach $260/t CFR for physical scrap? Stronger Chinese demand for finished steel products has helped increase Turkish scrap import prices over the past week. Again, there were a handful of physical bookings completed late last week between $255-$258/t CFR. According to Platts a US based seller transacted an HMS 90:10 cargo (which also …
