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Market Commentary Iron ore futures advanced on optimism that China’s steel output will stay elevated for the rest of the year. China’s steel demand is expected to ease off as the nation enters its rainy season. The latest rebar inventory data seemed to confirm that demand in China is slowing down. Rebar production was down …
Continue reading “FIS Singapore Iron Ore Derivatives Report 10/06/21”
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (FL): +1 813 490 6630
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (FL): +1 813 490 6630
Iron ore futures booked a slight gain after a volatile market session, amid market sentiment of lower steel demand during rainy season. The futures of Dalian Commodity Exchange (DCE) for September delivery then inched up by 0.68% on-day or up RMB 8 to RMB 1,178/mt on Thursday. The steel rebar contract on the Shanghai Futures …
Capesize freight rates rebounded with a much-improved Pacific market, though the Atlantic basins remained sluggish with oversupply of tonnage. The Capesize 5 time charter average, then inched up by $787 day-on-day to $20,632 on Wednesday, amid better market outlook. The Baltic Dry Index (BDI) posted gains of 2.52% or 61 points on-day to 2,481 readings, …
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (FL): +1 813 490 6630
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (FL): +1 813 490 6630
Verdict – Short-term neutral. DCE iron ore September contract resisted by 1191.5-1197.0 area again, which was also predicted from yesterday. Thus price movement was rejected by major resistance and went back to consolidation in narrower range. Hourly MACD narrowed. Hourly slow stochastic KD deepened the correction after created a dead cross. Hourly CCI tested low …
Continue reading “Iron Ore DCE Sep Daily Technical Review 10/6/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · On June 9, the National Development of Reform Commission held a forum, proposing to closely track the trend of commodity prices, including price forecasting and early warning, further understanding the operation of relevant market entities, figure out the clues of illegal price increases, …
At 10:38 am Singapore time (0238 GMT), the ICE August Brent futures contract was down 65 cents/b (0.90%) from the previous settle at $71.57/b while the NYMEX July light sweet crude contract was down 61 cents/b (0.87%) at $69.35/b. EIA week ending 6/4 Crude oil: -5.2M Gasoline: +7.0M Distillates: +4.4M Refiner utilz: 91.3% Impld …
