FIS API Blog
Capesize rates continued to race upward with better shipping demand in both basins, supported by the recent iron ore rally. The Capesize 5 time charter average surged up by another $1,087 day-on-day to $9,142 on Wednesday, marking a rise throughout the week. Likewise, the Baltic Dry Index (BDI) continued to hike and reached 764 points …
Continue reading “Capesize rates race ahead on robust shipping demand”
Unexpected Build? The EIA confirmed a large build in US crude stocks at 5.7 mil bbls to put stocks at 538.1 million bbls, a historic record excluding US strategic reserves. This was caused largely by the shipments from Saudi Arabia from the price war pumping in March and April. We knew from the effects on …
Iron Ore and Steel Market Updates MySteel sintered iron ore inventory at 16.62 million tonnes. Sintered iron ore daily consumption 625,100 tonnes. Inventory turnover in 23 days. China weather forecast indicated heavy rain and flood warning in western, mid-China and southern provinces. Guangzhou inventories decrease slower w-o-w, since several floods happen in late May and …
FIS Supramax Technical Report To view the full report please click on the link
Iron ore futures were a touch softer on Wednesday as investors assessed the supply outlook for iron ore following the recent closure of Vale’s Itabria complex. Investors grew concerned over tight supply after Vale was ordered to shut down Itabria, which accounts for over 10% of Vale’s output, in the state of Minas Gerais …
Continue reading “Iron ore softer as pundits exchange views on supply outlook”
The Glut is Back Those of you who have been watching your crude ticker this morning will see many red numbers on the screen. The reason for this has been the switch of sentiment to concerns about oversupply. We have had reports late last night that the API have predicted a large build in US …
