Iron Ore and Steel Market Updates – Turkey Iskenderun mill Koc Metalurji will extend suspension to July. KM produced 1.2 million iron ore mtpa, 550,000 tonnes of rebar annually. – Ukraine DCH group miner subsidiary Sukhaya Balka Jan – Apr production down 3.7% to 875,000 tonnes y-o-y. – CISA and Vale tele-conference suggest Vale currently …
Category archives: Products
Iron ore “could continue to test new highs”
Iron ore futures rallied above $98 on Tuesday on better Chinese outlook and ongoing supply concerns from Brazil. Iron ore port inventories have fallen to a four-year low as China moved past the coronavirus pandemic, prompting Chinese steel mills to ramp up output, boosting demand for iron ore. The latest Purchasing Manager’s Index for …
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DCE stays on black after closing selloff
Chinese futures struggled to stay on positive after a selloff near closing that threatened to give up all the gains made in the morning session. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, went up slightly by 0.07% day-on-day to RMB 757 per tonne on Tuesday. Similar …
Capesize rates hike up amid European holidays
Capesize rates gained slightly despite holidays across Europe that took off several players out of the market. Despite of thin trading, the Capesize 5 time charter average hiked by $279 to $3,648 on Monday, without any noticeable change in the physical market. In the meantime, the Baltic Dry Index (BDI) had gained steadily to 520 …
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Vale expected to ship more iron ore to China in 2020
Brazil’s Vale SA expects iron ore shipments to China to rise in 2020, versus 2019, due to falling demand in other countries hurt by the coronavirus pandemic, according to a phone call between the miner and the China Iron and Steel Association. Production at Vale has not been impacted by the pandemic and it is …
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Capesize July 20 Morning Technical Comment – 240 Min
Monthly Fuel Oil Report
After a disastrous month for oil in April, stability has returned and we have seen a steady recovery of prices. This has had a knock on effect for all related products, pushing up values across the board. Towards the end of last month we had Rotterdam 3.5% below $100 and Rotterdam 0.5% below $200, but …
Iron ore consolidation points to potential reversal
Ferrous Sector Money-flow: DCE iron ore aggregated open interest reached a high at 1.18 million lots on February 21 as well as creating periodic high, following a correction of 19.26%. The open interest high last week was 1.15 million lots. Long positions need to be aware of the similar correction happen for the second time …
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Full tankers idle as crude scrapes back near $40
Brent crude has doubled in price over the past six weeks, pulling back from the brink and the unprecedented step of negative US crude prices. With Chinese demand increasing and the new OPEC cuts, with the extension being discussed right now, it has managed to drag prices to just under $40. Meanwhile queues …
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