ENGINE: Global Physical Bunker Market Update 26/8/21

Global bunker prices are moving in mixed directions across ports today, while Brent has inched up by another 1% on the day.   Changes in the day to 08.00 GMT today: VLSFO prices up in Houston ($9/mt), Rotterdam ($4/mt), Gibraltar ($11/mt), Singapore ($2/mt) steady in Fujairah and down in Gibraltar ($2/mt) LSMGO prices up in …

Singapore Iron Ore Derivatives 26/08/21

Iron Ore Market Update   Market Commentary   Iron ore remained supported following an uptick in restocking. According to trade sources, restocking activities have picked up ahead of the peak steel season in September and October. Meanwhile, China’s push to reach its economic targets also added to the gains. According to a front-page article published …

Daily DCE Review 26/8/21

Iron ore futures rallied further on Thursday, recovering loss ground from recent slump, as the steel market entered traditional peak season. The futures of Dalian Commodity Exchange (DCE) for September delivery then inched up by 0.74% day-on-day or up RMB 6 to RMB 816/mt, during the day trading session on Thursday. The rebar futures however, …

Morning Steel and Scrap Report 26/8/21

FOB China HRC   The index fell by $2/t yesterday (25.8.21) to US$908/t, MTD US$922.82/t.   Cisa member mills reverses early August Crude steel output cuts, increasing output by 4.6pc to 2.1379mn t/day over 11-20 August from 1-10 August. The output was still 1.1pc lower from a year earlier. There are no changes for major …

Daily Capesize Review 25/8/21

Capesize freight rates took a breather from recent bullish run, as trade participants went for profit-takings in the paper market. The Capesize 5 time charter average, then fell by $810 day-on-day to $50,662 on Thursday, following the market selloff, despite good market fundamentals. The Baltic Dry Index (BDI) followed the dip and dropped to $4,193, …

Daily Virtual Steel Mill Report 26/8/21

Market Verdict on Iron Ore: ·         Neutral to bullish Macro ·         S&P 500 and Nasdaq closed on prehistoric high yesterday. Iron Ore Key Indicators: ·         Platts62 $149.45, +0.85, MTD $160.09. ·         Brazil Minas Gerais State No. 8 iron ore miner received environment approval by the end of year 2021, and the miner will immediately start …