FIS API Blog
Iron ore futures recovered from yesterday’s blip to trade above $95 as investors become increasingly concerned over the coronavirus crisis in Brazil. Brazil’s iron ore shipments had their slowest start to a year in the last five years. Brazilian miner Vale downgraded its production guidance early in the year, Morgan Financials Ltd noted that more …
Continue reading “Iron ore blips back on supply fears, stimulus hopes”
Chinese futures spiked up further, over tight supply concerns and expectation of more Chinese stimulus measures. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, jumped by 2.05% day-on-day to RMB 722 per tonne on Thursday. On the contrary, the steel rebar contract on the Shanghai Futures Exchange increased …
Continue reading “DCE on a bull run over anticipation of stimulus packages”
China’s top leaders should reveal on Friday how much they’re planning to spend on stimulus to support the post-virus economy, when they belatedly announce their economic policy blueprint for the rest of 2020. The centerpiece event will be the work report delivered by Premier Li Keqiang, which typically contains the economic growth and spending targets, …
Continue reading “What to Watch as China Unveils Stimulus in Policy Meeting”
Iron ore futures in Singapore were steady Thursday amid heightened concern over supply of the steelmaking raw material and the flagging of new import rules by China. Prices could test $120/ton as global supply is failing to keep pace with resilient consumption, according to Morgans Financial Ltd. Brazil iron ore shipments had their slowest start …
Continue reading “Iron Ore Steady as Supply Concern, Import Rules Mulled”
China streamlined its inspection rules for iron ore imports amid increasing debate about whether the $43 billion trade between the two nations will be caught up in their escalating spat. While the Global Times — a tabloid run by the flagship newspaper of the Communist Party — said the simplification of rules is aimed at …
Continue reading “China Simplifies Iron Ore Import Rules Amid Australia Virus Spat”
Chinese futures hiked to slight gain on Wednesday, as the iron ore rally slowed after six consecutive days of positive run. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, went up slightly by 0.93% day-on-day to RMB 704.50 per tonne on Wednesday. On the contrary, the steel rebar …
Zinc retreated from its highest close since February as pandemic-driven supply disruptions ease. Zinc’s backwardation on the London Metal Exchange narrowed Tuesday in a sign that supply is set to recover. Mines are gradually resuming production as virus restrictions ease and Chinese smelters are boosting runs. Investors will focus on China’s policy-setting National People’s Congress …
Continue reading “Zinc Falls From 3-Month High on Rising Supply”
