Singapore Iron Ore Report 10/05/2021

Market Commentary Iron ore futures surged more than 10% on Monday amid robust Chinese demand as well as optimism over global economic recovery, while the bilateral tensions between Australia and China also helped fired up the steelmaking ingredient. According to the China Iron & Steel Association (CISA), Chinese mills’ daily crude steel production went up …

Morning Steel and Scrap Report 10/5/21

FOB China HRC   The index rose by $12/t last Friday (7.5.21) to US$950/t, MTD US$932.60/t.   An east China mill sold 10,000t SAE grade pipe-making coils at $950/t fob last week. Some other deals were heard done at $960/t fob for SS400 HRC, but no further details could be confirmed. Two major Chinese mills …

Daily DCE Review 10/5/21

Iron ore futures went up the roofer at the start of morning trading session to extend the post-holidays rally. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then rallied up to the daily limit by 10% day-on-day or up RMB 120.50 to RMB 1,326.50/mt on Monday. The steel rebar …

Morning Tanker Report 10/5/21

News Headlines:   Oil gains after cyberattack forces closure of U.S. fuel ‘jugular’ pipeline (Reuters)   Crude prices rose as a cyberattack shutdown critical fuel supply on the Colonial pipeline network, showcasing how hackers are very adept to finding new ways to penetrate the U.S. energy infrastructure in un-traditional ways.   To view the curve …

Morning Oil Report 10/5/21

At 11:46 am Singapore time (0346 GMT), the ICE Brent July contract was up 29 cents/b (0.42%) from the May 7 settle at $68.57/b, while the June NYMEX light sweet crude contract was up 19 cents/b (0.29%) at $64.90/b.   As a result of the positive tracks made with the UK vaccine programme, fuel sales …