Category archives: Freight

Iron ore consolidation points to potential reversal

Ferrous Sector Money-flow: DCE iron ore aggregated open interest reached a high at 1.18 million lots on February 21 as well as creating periodic high, following a correction of 19.26%. The open interest high last week was 1.15 million lots. Long positions need to be aware of the similar correction happen for the second time …

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Full tankers idle as crude scrapes back near $40

Brent crude has doubled in price over the past six weeks, pulling back from the brink and the unprecedented step of negative US crude prices.   With Chinese demand increasing and the new OPEC cuts, with the extension being discussed right now, it has managed to drag prices to just under $40.   Meanwhile queues …

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Brazil May Plant Biggest Soybean Crop Ever: Fertilizer Co. Yara

Fertilizer sales in Brazil has surged with farmers taking advantage of the stronger purchasing power in the past decade, Lair Hanzen, CEO for Yara International in the Americas, said Monday at a press briefing. “Brazil is getting ready to plant a new record soybean crop”   While the sharp decline of the Brazilian currency against the dollar boosted …

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American Exporters Sell Soy to China Despite Rising Tensions

American soybean exporters sold several cargoes to Chinese state-run buyers, according to people familiar with the matter, showing that some transactions are still going through even after officials in Beijing ordered a pause in some purchases.   Shippers sold as many as four cargoes of U.S. soybeans from the new crop, said the people, who asked not …

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Iron ore soars on China recovery, supply fears

Iron ore futures soared on Monday after latest data indicated that China is recovering robustly from the coronavirus pandemic.    The Caixin/Markit Manufacturing Purchasing Manager for May came in at 50.7, better than both market estimates and the reading of previous month of 49.6 and 49.4 respectively, indicating that China is expanding faster than expected. …

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Capesize rates gains despite mixed market outlook

Market participants were in doubt if the Capesize market would continue to enjoy higher rates over potential supply outages from Brazil. The expected lower volume from Brazil was met with high iron ore prices that firmed up rates as the Capesize 5 time charter average jumped by $141 to $3,369 on Friday. The jump was …

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