FIS API Blog
Mining major, Rio Tinto’s first blockchain iron ore trade with Baosteel this week may set the trend for more such trades to come. The paperless trade transaction was done via the Contour trade finance blockchain platform, that breaks away from the traditional paperwork when documents were normally couriered for inspection. This ‘breakaway’ buried the image …
Continue reading “Who Says Elephants Can’t Dance: Rio Tinto’s first blockchain trade”
Capesize market seemed to dive to a new low with each passing days, prompting trade participants to think if the market has bottomed or another V-shape recovery is around the corner. Gone are the heydays of the boom days when spot cape was trading high toward $200,000 per day in the 2008 and instead the …
Chinese futures ended the week on high note, due to better buying interests over tightness in port inventory. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked by 3.33% on-day to RMB 668 per tonne at Friday. Following the rally, the steel rebar contract on the Shanghai Futures …
China’s industrial output increased in April for the first time since the coronavirus outbreak, adding to early signs of a recovery that economists cautioned would be slow and challenging. Industrial output rose 3.9% from a year earlier, reversing a drop of 1.1% in March, data showed Friday. Fixed-asset investment decreased 10.3% in the first four …
Continue reading “China’s Industrial Economy Improves While Consumers Remain Wary”
Saudi Arabia’s loss of oil market share in China last month to Russia and Iraq is likely to be fleeting, with analysts saying shipments from the kingdom to Asia’s largest economy are rebounding in May. Saudi crude exports to China could more than double to 10 million tons this month from April, according to ship-tracking …
Continue reading “Saudi Loss of China Oil Market Share Likely Brief, Say Analysts”
Wheat futures headed for their biggest weekly loss in a month on prospects for record global stockpiles, though prices held just above $5 a bushel on Friday with some areas still dry and on demand from importers. The July rice contract rose for a ninth day on tightness in U.S. old crop supplies. Soybeans advanced …
Continue reading “Wheat Set for Worst Week in a Month on Record Stockpile Outlook”
I own a springer spaniel called Molly, she is small and gentle and knows never to pick a fight with a bigger dog as she was on the losing end of an altercation a few years back. The Australian government has an economy that is largely dependent on exports to China, not just minerals, but …
Continue reading “Is Australia the fall guy for the China – U.S. phase one trade deal?”
FIS Supramax Technical Report The index remains between support and resistance as it continues to edge higher on the back of the divergence. Momentum indicators would suggest the technical remains vulnerable to further tests to the downside. However price action has produced 5 waves down that have ended in a divergence suggesting the downside phase …
* China will implement phase 1 trade deal with U.S. – COFCO exec * China needs to use huge soybean stocks from May-Sept -COFCO exec * Bad soybean crush margins to remain – COFCO exec * China’s soybean imports in 2019/20 seen at 87.50 mln T -exec * U.S. imports to be 13.70 mln T …
Continue reading “China likely to speed up buying of U.S. farm goods – COFCO exec”
