FIS API Blog
Chinese futures continued to rally for second consecutive day on higher production and margins. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked by 1.09% to RMB 647.50 per tonne at Thursday. On the contrary, the steel rebar contract on the Shanghai Futures Exchange had slid slightly with …
Continue reading “DCE rebounds for the second day on better output”
Wheat futures in Chicago tumbled for a fifth day in the longest losing streak since January, dropping below $5 a bushel to the lowest in two months, on prospects for ample global supplies. Soybeans retreated for a third day, while corn eased as tensions between the U.S. and China over the coronavirus pandemic rekindled concerns …
Continue reading “Wheat Heads for Worst Run Since January as Crop Futures Decline”
Capesize freight rate reached another low due to bearish market sentiment in both the Pacific and Atlantic basins. The Capesize 5 time charter average dived down further toward the $2,000 level on Wednesday, at $2,082, down $811 on-day. The lengthy ballaster tonnage list remained hard for the market to digest, which prompt some shipowners to …
Continue reading “Another low for Capesize rates due to long ballaster list”
The fact that the Colombian government feels the need to militarize the border tells us all we need to know about the Covid-19 situation in Brazil. Fast becoming a global hotspot, neighbouring nations are become increasingly concerned by the country’s failure to tackle the pandemic with the same aggressive tactics that we are seeing internationally. …
Continue reading “Is Brazilian iron ore supply about to come under pressure?”
Iron ore futures steadied as investors focused on measures in China to shore up economic growth, as well as the outlook for demand. The People’s Bank of China recently vowed to deploy “more powerful” policies, without giving further details on what measures it will use, and key government meetings starting next week may approve more debt sales among …
Continue reading “Iron Steady With Focus on China Stimulus, Steel Output”
The global iron ore market will have a surplus of 4 million tons this year on higher shipments and lower steel demand outside of China, according to Goldman Sachs Group Inc. in a revised projection. Previous expectation was a 30 million-ton deficit, analysts including Paul Young said in a report dated Thursday Market to move into a surplus in …
Continue reading “Iron Ore to Fall to $70 as Market Moves to Surplus, Goldman Says”
2020/21 OUTLOOK SOYBEANS Global soybean production in 2020/21 is forecast to surge to 362.8 million tons, up 8 percent from the 2019/20 estimate and 2.5 million tons above the 2018/19 record. Two factors are driving this increase: a rebound in plantings and yield in the United States and record area forecast in Brazil. Combined, Brazil …
Chinese futures rallied on better steel margins, which prompted more mills to ramp up production. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked by 2.14% to RMB 645.50 per tonne at Wednesday However, the steel rebar contract on the Shanghai Futures Exchange was mostly flat throughout the …
It was another ugly day for the Capesize market as rates continued to deteriorate from oversupply of vessels and low shipping demand. The Capesize 5 time charter average plunged further by $949 on-day to $2,893 on Tuesday, due to sell off on the paper market. With the massive sell off, the market sentiment has become …
