Daily Ferrous Physical Review Aug 21st

Ferrous Market –    MySteel 45 ports iron ore inventory at 112.42 million tonnes, down 813,300 tonnes w-o-w. Daily evacuation 3.27 million tonnes down 12,600 tonnes w-o-w. Australia iron ore on ports at 57.86 million tonnes down 967,800 tonnes w-o-w. Brazil iron ore on ports at 28.45 million tonnes up 693,000 tonnes w-o-w. 185 ships at …

Capesize rates slide on selling pressure amid Vale’s fixing spree

Capesize freight rates continued to slide despite a flurry of fixtures done by Brazilian miner over a short span of days. The Capesize 5 time charter average went down by $898 day-on-day to $18,570 on Thursday, despite bullish sentiment over the Brazil to China route. The Baltic Dry Index (BDI) then dropped by 3.19 % …

Oil Through the Looking Glass 20/8/20

*Crude Stocks Fall While Imports Rise The EIA reported yesterday that crude inventories fell by 1.6 million barrels in the week to Aug. 14 to 512.5 million barrels, less than analysts’ expectations in a Reuters poll for a 2.7 million-barrel drop. This drop came despite a rise in net imports of 1.1 million bpd   …

DCE dips on cautious market sentiment

Iron ore futures ended the bullish run after iron ore prices reached a six year high recently on robust Chinese steel demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dropped by 1.40% or RMB 12 day-on-day to RMB 848 per tonne on Thursday. Similarly, the steel rebar contract on …

Iron Ore DCE January Daily Technical Review Aug 20th

Verdict – Short-term bearish. DCE iron ore extend the correction from yesterday. Daily slow stochastic KD widened after the dead cross created yesterday. Daily MACD and CCI both created bearish divergence with iron ore price over a week. 851.5 changed from support to resistance level. Hourly chart CCI created new low since July 24th. Hourly …