FIS API Blog
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 …
Continue reading “DCE drops for the second day on easing Brazilian supply”
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 …
*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. …
Verdict – Short-term neutral. DCE iron ore consolidate for few days and correct during today. The highs are becoming lower at 798.0,788.0,786.5. The lows are becoming higher 733.5,756.5,764.0. In short-run, iron ore traded in a triangle and narrowing in the consolidating range. From hourly chart, MACD widened below 0 axis after dead cross. Slow stochastic …
Iron Ore and Steel Market Updates Vale informs that, on this date, the Sub-Secretariat for Labour Inspection, in Minas Gerais, issued a Term of Suspension of Interdiction of the Itabira mining complex. The Itabira Complex activities were halted since June 5th, 2020 and the production impact was lower than 1 Mt. The operation will be …
FIS Technical – DCE Iron Ore Sep 20 Testing Trend Support To view the full report please click on the link
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/
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 …
Continue reading “DCE corrects amid second wave of coronavirus”
