FIS API Blog
Iron ore futures head for the highest close in four months on supply concerns, as the number of coronavirus infections in major producer Brazil continues to soar. Brazil added more cases after a record number of infections Friday, overtaking Spain as the nation with the world’s fourth- highest number of confirmed Covid-19 patients. Brazil’s new …
Continue reading “Iron Jumps as Brazil Virus Cases Stoke Supply Concerns”
Mining major, Rio Tinto’s first blockchain iron ore trade with Baosteel this week may set the trend for more such trades to come. The paperless trade transaction was done via the Contour trade finance blockchain platform, that breaks away from the traditional paperwork when documents were normally couriered for inspection. This ‘breakaway’ buried the image …
Continue reading “Who Says Elephants Can’t Dance: Rio Tinto’s first blockchain trade”
Chinese futures ended the week on high note, due to better buying interests over tightness in port inventory. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked by 3.33% on-day to RMB 668 per tonne at Friday. Following the rally, the steel rebar contract on the Shanghai Futures …
China’s industrial output increased in April for the first time since the coronavirus outbreak, adding to early signs of a recovery that economists cautioned would be slow and challenging. Industrial output rose 3.9% from a year earlier, reversing a drop of 1.1% in March, data showed Friday. Fixed-asset investment decreased 10.3% in the first four …
Continue reading “China’s Industrial Economy Improves While Consumers Remain Wary”
Chinese futures continued to rally for second consecutive day on higher production and margins. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked by 1.09% to RMB 647.50 per tonne at Thursday. On the contrary, the steel rebar contract on the Shanghai Futures Exchange had slid slightly with …
Continue reading “DCE rebounds for the second day on better output”
The fact that the Colombian government feels the need to militarize the border tells us all we need to know about the Covid-19 situation in Brazil. Fast becoming a global hotspot, neighbouring nations are become increasingly concerned by the country’s failure to tackle the pandemic with the same aggressive tactics that we are seeing internationally. …
Continue reading “Is Brazilian iron ore supply about to come under pressure?”
Iron ore futures steadied as investors focused on measures in China to shore up economic growth, as well as the outlook for demand. The People’s Bank of China recently vowed to deploy “more powerful” policies, without giving further details on what measures it will use, and key government meetings starting next week may approve more debt sales among …
Continue reading “Iron Steady With Focus on China Stimulus, Steel Output”
The global iron ore market will have a surplus of 4 million tons this year on higher shipments and lower steel demand outside of China, according to Goldman Sachs Group Inc. in a revised projection. Previous expectation was a 30 million-ton deficit, analysts including Paul Young said in a report dated Thursday Market to move into a surplus in …
Continue reading “Iron Ore to Fall to $70 as Market Moves to Surplus, Goldman Says”
Chinese futures rallied on better steel margins, which prompted more mills to ramp up production. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked by 2.14% to RMB 645.50 per tonne at Wednesday However, the steel rebar contract on the Shanghai Futures Exchange was mostly flat throughout the …
