FIS API Blog
China streamlined its inspection rules for iron ore imports amid increasing debate about whether the $43 billion trade between the two nations will be caught up in their escalating spat. While the Global Times — a tabloid run by the flagship newspaper of the Communist Party — said the simplification of rules is aimed at …
Continue reading “China Simplifies Iron Ore Import Rules Amid Australia Virus Spat”
Revenues of German shipping companies declined by 30 to 40 percent on average in March and April, according to a company survey published by the German Shipowners’ Association (VDR) on Tuesday. At the same time, 44 percent of shipping companies were already recording a “substantial impairment” of their liquidity, according to the survey among 50 …
Continue reading “German shipping industry heavily impacted by coronavirus pandemic”
Capesize market rebound to better shipping demand, with improving freight rates in both the Atlantic and Pacific basins. Thus, the Capesize 5 time charter average rose by $587 to $3,462 on Tuesday, as some trade participants believed that the market had bottomed out. Buoyed by the better Capesize market, the Baltic Dry Index rose over …
Continue reading “Capesize continues the good run with better demand”
Chinese futures hiked to slight gain on Wednesday, as the iron ore rally slowed after six consecutive days of positive run. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, went up slightly by 0.93% day-on-day to RMB 704.50 per tonne on Wednesday. On the contrary, the steel rebar …
Oil steadied after a four-day gain as investors weighed signs the market is rebalancing against what’s still a precarious economic outlook. Futures in New York for July delivery edged above $32 a barrel after the June contract closed at a 10-week high as it expired. Federal Reserve Chairman Jerome Powell warned Americans could start losing …
Continue reading “Oil Rally Stalls With Fed Warning Countering Production Cuts”
