Daily Virtual Steel Mill Report 16/8/21

Market Verdict on Iron Ore: ·         Iron ore short-run neutral. Macro ·         Indian PM Modi indicated India will start 100 trillion rupee(1.35 trillion U.S. dollar) in the new infrastructure projects to increase job roles and new energy projects. ·         China central bank stated on Saturday that current Chinese Yuan potentially appreciate or depreciate, which potentially …

Morning Fuel Oil Report 16/08/21

Morning Oil Report   At 10:51 am Singapore time (0251 GMT), the ICE October Brent futures contract was down 80 cents/b (1.13%) from the previous close at $69.79/b, while the NYMEX September light sweet crude contract similarly fell 77 cents/b (1.13%) at $67.67/b.   Yet again, oil has fallen from the end of Friday’s trading …

Tanker Morning Report 16/08/21

News Headlines:   OIL DAYBOOK EUROPE: U.S. Shale Explorers Rev Up Their Rig Count (Bloomberg)   Just when it looked like U.S. shale explorers were settling in for slower growth the rest of this year, the oil-rig count jumped the most in four months. OIL FUTURES: Oil Drops as Delta Takes Toll on China as July Apparent Oil …

Morning Steel and Scrap Report 13/08/21

FOB China HRC   The index was flat yesterday (12.8.21) at US$928/t, MTD US$928.50/t.   HRC stockpiles at traders and mills increased by over 60,000t this week, with output increasing, participants said. Buyers were not ready to book with weak demand and some traders started to concern downstream demand may not recover in September. In …

Singapore Iron Ore Report 13/08/21

Iron Ore Market Update Market Commentary China’s steel outlook looks bleak as China’s steel industry vowed to enforce efforts to cut output this year. According to Shanghai Securities News, the government will work closely with the industry to develop plans for staggered steel production cuts over winter. Major producers such as Jiangsu and Shandong have …