FIS API Blog
Conflicting Views on Iron Ore – Two Sides of the Fence Conflicting views in the Iron ore sector this morning with Citigroup calling for iron ore prices to fade to USD 70/ton as we approach May and seasonal weakness in China steel demand. The bank noted that the decline is taking longer than anticipated due …
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Capesize June 20 Morning Technical Comment – 240 Min
Panamax May 20 Morning Technical Comment – 240 Min
Brent June 20 Morning Technical Comment – 240 Min
Historic Oil Output Cuts Give Boost to World’s Dirtiest Crudes (Bloomberg) — Heavier and more sulfurous oil is getting a price boost as production curbs by the OPEC+ alliance tighten the supply of what’s generally regarded as lower-quality crude. Abu Dhabi’s Upper Zakum, a grade with high sulfur content, is at the narrowest discount against …
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Chinese futures rose on Wednesday despite some earlier losses at the start of the session. As such, the most-actively traded iron ore futures for September 2020 delivery on the Dalian Commodity Exchange (DCE) rose by 1.16% day-on-day to RMB 613 per tonne on Wednesday. Likewise, the steel rebar contract on the Shanghai Futures Exchange also …
Continue reading “DCE rebounds over higher China’s infrastructure spending”
Capesize paper market went downhill on lower trading activities over bearish market outlook and falling crude prices. Trade participants were concerned over the sharp plunge in crude prices and its impact on bunkers and freight rates. As such, Capesize 5 time charter average went down by $525 to $9,556 on Tuesday, after a sharp sell …
Continue reading “Capesize under pressure from crude sell off”
Capesize paper market continued to run out of the steam and fell for the third consecutive day amid bearish market sentiments. Thus, Capesize 5 time charter average dropped y by $394 day-on-day to $8,531 on Thursday, after it came under pressure in morning session that set the tone for the rest of trading day. The …
Continue reading “Capesize in retreat despite higher bunker prices”
Chinese futures slipped toward the closing session after a rally in morning session on pre-holiday restocking demand. The most-actively traded iron ore futures for September 2020 delivery on the Dalian Commodity Exchange (DCE) dipped slightly by 0.41% day-on-day to RMB 607 per tonne on Friday. Following the decline, the steel rebar contract on the Shanghai …
Capesize paper market traded on narrow range as trade participants were concerned over several holidays in Far East in coming days. Thus, the Capesize 5 time charter average dropped by $150 day-on-day to $8,381 on Friday, as liquidity dried up ahead of the many holidays in Asia that limited shipping activities. Some Capesize demand had …
