Capesize market kept up the upward momentum with better shipping demand in both basins with higher iron ore prices. Thus, the Capesize 5 time charter average rose by $910 day-on-day to $6,177 on Thursday, after a strong afternoon session that pushed paper market to a day high. Likewise, the Baltic Dry Index (BDI) also managed …
Category archives: Products
Iron Ore Offshore July 20 Morning Technical Comment – 240 Min Chart
6 Weeks on the Bounce
That is quite a recovery from what was a pretty dire situation for crude. Brent has now risen 6 weeks on the bounce, from a front month price close of around $19.15 on the 21st April to over $40 currently. If we don’t get a Friday sell off/profit taking, I’m sure that the powers that be …
Supramax June 20 Morning Technical Comment – 240 Min
DCE extends corrections despite strong Chinese demand
Chinese futures dipped further on lower buying interest, as buyers were turned off by high seaborne prices and preferred port purchases. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, slid down by 0.93% day-on-day to RMB 746 per tonne on Friday. Following the downtrend, the steel rebar contract …
Continue reading “DCE extends corrections despite strong Chinese demand”
Capesize July 20 Morning Technical Comment – 240 Min
Panamax June 20 Morning Technical Comment – 240 Min
Brent August 20 Morning Technical Comment – 240 Min
Iron Ore DCE September Daily Technical Review Jun 5th(Hourly Chart from May 18th to Jun 5th)
Verdict – Short-term consolidation. DCE iron ore rebounded from DCE night session, however consolidated within narrow range from 743.0- 746.0 area in Asian hours. From hourly chart, multiple tops pattern has created and the low of candles broke down neckline on 738.0 area. Thus, iron ore is still in a correction tunnel, unless a breakthrough …
FIS Daily Physical Review Jun 5th
Iron Ore and Steel Market Updates – MySteel 45 ports iron ore inventory at 107.54 million tonnes, down 311, 500 tonnes w-o-w. Daily evacuation 3.14 million tonnes up 121,400 tonnes w-o-w. Australia iron ore on ports at 60.51 million tonnes down 499,800 tonnes w-o-w. Brazil iron ore on ports at 21.79 million tonnes down 147,700 …