FIS API Blog
Iron ore futures ended the week in decline due to high port inventory and slow steel demand in China. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dipped down by 0.63% day-on-day to RMB 785.50 per tonne on Friday. The steel rebar contract on the Shanghai Futures Exchange remained flattish …
Continue reading “DCE dips further as port inventory reaches 7-month high”
Capesize freight rates continued to decline further due to aggressive selloff in paper market and bearish sentiment in the physical market. The Capesize 5 time charter average fell by $1,568 day-on-day to $21,737 on Thursday, as buyers retreated from the market, while sellers chased it lower. As such, the Baltic Dry Index (BDI) then fell …
Continue reading “Capesize rates drop on weak shipping fundamentals”
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Continue reading “Fertilizer Financial Markets Commentary/Curves”
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Good morning all. Brent crude futures for December dropped 44 cents, or 1.0%, to $42.72 a barrel by 0437 GMT, while WTI for November delivery fell 40 cents, or 1.0%, to $40.56 a barrel. Both Benchmarks are set to remain relatively unchanged for the week. London now finds itself creeping slowly up the government’s …
Verdict – Short-term neutral. DCE iron ore exhausted on previous correction and created a doji during the day. However the previous support removed from 783.5 to 776.5, iron ore still created lower lows and lower highs. From hourly chart, slow stochastic KD created gold cross and widened. MACD is narrowing and potentially create gold cross. …
Continue reading “Iron Ore DCE January Daily Technical Review Oct 16th”
Ferrous Market – Mysteel researched 247 blast furnace operation rate at 88.41%, down 0.78% w-o-w. Utilisation rate 92.91%, down 0.30% w-o-w. Daily pig iron production 2.47 million tonnes, up 8,000 tonnes. – MySteel 45 ports iron ore inventories at 122.39 million tonnes, up 1.78 million tonnes w-o-w. Daily evacuation 3.12 million tonnes, down 58,500 tonnes …
For iron ore, the bearish rhetoric is increasing as we continue to hear about global supply. The November futures have now seen four days of negative price action and this is getting buyers anxious, as the price must be justified when you are USD 40 above 5-year average values. USD 108.84 is the next logical …
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 …
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 …
