FIS API Blog
Oil slipped from the highest settlement in 11 weeks on signs Russia was planning to start easing supply cuts from July, while tensions between the U.S. and China escalated amid the specter of sanctions. Futures fell 0.8% in New York after closing above $34 a barrel for the first time since March. Moscow wants to …
Continue reading “Oil Halts Rally Near $34 on Signs Russia May Ease Supply Cuts”
The U.S. is considering a range of sanctions to punish China for its crackdown on Hong Kong, people familiar with the matter said, as the Trump administration weighs whether to declare the former colony has lost its autonomy from Beijing. The Treasury Department could impose controls on transactions and freeze assets of Chinese officials and …
Continue reading “U.S. Mulls Sanctions on Chinese Officials, Firms Over Hong Kong”
Capesize market slowed after the recent rally in shipping rates, as trade sources seek for clearer market direction ahead. As such, the Capesize 5 time charter average slid slightly by $56 to $4,140 on Friday, as the market approached the long weekend. There was a prompt selloff of June contracts earlier in trading session, before …
Ferrous Sector Money-flow: DCE iron ore started to soften after open interest reached a yearly-high, indicating previous longs are taking gains. Coke became the leader of ferrous sector during previous week and early this week. DCE September iron ore total contract value was 65 billion Yuan, the peak in 2019 was 75 billion yuan. However, …
Continue reading “High volatility expected, but iron ore risks reversal”
Capesize market moved up to higher on higher iron ore prices and robust shipping demand. Due to the stronger physical market, the Capesize 5 time charter average rose by $245 to $4,196 on Thursday. The strong freight market had reflected a surge in iron ore prices which had hovered above the $90/mt for almost two …
Continue reading “Capesize rates drive higher by iron ore prices”
The Chinese government abandoned its decades-long practice of setting an annual target for economic growth amid the storm of uncertainty unleashed by the coronavirus pandemic, and said it would continue to increase stimulus. Speaking at the National People’s Congress in Beijing on Friday morning, Premier Li Keqiang delivered an annual policy address that instead laid …
Continue reading “China Abandons Hard Growth Target, Shifts Stimulus Focus to Jobs”
Capesize market continued the good run, thanks to the robust Pacific market with better freight rates. Reflecting the better physical market, the Capesize 5 time charter average increased by $489 to $3,951 on Wednesday. With Capesize market as the driving force, the Baltic Dry Index spiked again and gained over 5.30% on-day to 477 readings …
Continue reading “Robust Pacific drives Capesize rates higher”
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”
Oil was headed for its longest run of daily gains in 15 months after a drop in U.S. crude stockpiles added to signs that a market upended by coronavirus lockdowns and a producer price war is rebalancing. Futures in New York rose for a sixth day past $34 a barrel, the longest streak for the …
Continue reading “Oil Heads for Sixth Daily Advance After U.S. Stockpile Draws”
