FIS API Blog
Iron Ore Market Update Market Commentary Iron ore futures remained subdued as falling steel output kept pressure on the steelmaking ingredient. China’s crude steel production continued to fall as a result of the ongoing output cuts. Daily crude steel production fell by 1.2% to an average of 2.96 million metric tonnes per day over …
Continue reading “Singapore Iron Ore Derivatives Report 12/08/21”
ENGINE: Global Bunker Fuel Market Update Global bunker prices have mostly made moderate gains alongside Brent, while Zhoushan’s HSFO380 price has shot up amid tight availability. Changes on the day to 08.00 GMT today: VLSFO prices up Singapore, Fujairah and Houston ($5/mt) and Rotterdam ($3/mt), and down in Gibraltar ($1/mt) LSMGO prices up in …
Continue reading “ENGINE: Global Bunker Fuel Market Update 12/08/21”
FOB China HRC The index was unchanged yesterday (11.8.21) at US$928/t, MTD US$928.57/t. North China’s Tangshan government requires its independent rolling mills to maintain current production restriction ratio from 10 August to control ozone pollution, with no end date given. Chinese mills could make Yn800-1,000/t gross profit for coils at current spot prices, wider …
Iron ore futures closed on negative region, despite a late rally at the afternoon session before falling to a sharp drop again. The futures of Dalian Commodity Exchange (DCE) for September delivery then slumped by 2.16% day-on-day or down RMB 18.50 to RMB 838/mt, during the day trading session on Thursday. The rebar futures also …
Verdict – Short-term neutral, oversold currently. DCE iron ore January gave back all gains created on previous trading day. Iron ore ended an oversold rebound and return to a short-run consolidation area from 836.0- 874.5. If a breakdown through 836.0 and 823.5, iron ore will trigger a slump. Hourly slow stochastic KD fell quickly after …
Continue reading “Iron Ore DCE Jan Daily Technical Review 12/8/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · The U.S. Senate passed the 3.5 trillion U.S. dollar budget of Biden economic plan, used related to infrastructure investment. · China Ministry of Finance: building fiscal and tax policies to promote green and low-carbon development, will support the iron and steel and coal …
Capesize freight rates rose on improved market sentiments with better physical shipping demand in the Atlantic market. The Capesize 5 time charter average, then rose by $459 day-on-day to $36,354 on Wednesday, due to firm showing seen in the Atlantic market. The Baltic Dry Index (BDI) also hiked up 1.04% day-on-day, or 35 points to …
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Morning Oil Report At 11:38 am Singapore time (0338 GMT), the ICE October Brent futures contract was up 11 cents/b (0.15%) from the previous close at $71.55/b while the NYMEX September light sweet crude contract was also up 11 cents/b (0.16%) at $69.36/b. EIA week ending 8/6 Crude oil: -0.4M Gasoline: -1.4M …
News Headlines: OIL DAYBOOK EUROPE: Red-Hot Summer Fizzles Out; IEA Report (Bloomberg) The dazzling summer that was promised for global oil markets is coming to a subdued end, as the pandemic once again grips the biggest fuel consumers. Just a few weeks ago, Wall Street predictions that crude would hit pre-virus …
