FIS API Blog
Verdict – Short-term consolidate at high level. DCE iron ore September contract closed slight lower than yesterday. A further breakthrough on 897.0 would drive price to a fast growing tunnel. However a breakdown on 874.0 would lead iron ore to short-run correction. From hourly chart, slow stochastic KD created dead cross last night and deepened …
Continue reading “Iron Ore DCE September Daily Technical Review Aug 3rd”
Ferrous Market – Brazil iron ore July export 33.99 million tonnes up 13% from June. – China 45 ports arrivals at 25.28 million tonnes, up 1.61 million tonnes. Northern six ports arrivals at 13.96 million tonnes, up 1.09 million tonnes. – Mysteel iron ore deliveries at 23.73 million tonnes previous week, down 815,000 tonnes w-o-w. …
Capesize rates started the week on bullish note as bad weather, crew replacement and stricter quarantine measures affected the tonnage supply. The Capesize 5 time charter average hiked up by $755 day-on-day to $19,051 on Monday, as market participants expected freight rates recovery over short term. Due to the improvement in Capesize, the Baltic Dry …
Continue reading “Capesize rates rally over congestion in the Pacific”
