Iron ore futures rose on drawdown of steel stocks among Chinese traders, lifting market sentiments on better steel demand ahead. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 2.12% day-on-day to RMB 794.50/mt on Friday. Following the rally, the steel rebar contract on the Shanghai Futures Exchange also …
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Capesize rates fall on further market selloff
Capesize freight rates fell further on aggressive selloff in the market, due to softening paper and physical market. The Capesize 5 time charter average then dropped by $2,100 day-on-day to $15,781 on Thursday, after a bloodbath in the paper market. The Baltic Dry Index (BDI) also followed the downtrend and dropped by 6.29% or 87 …
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Iron Ore DCE January Daily Technical Review Oct 30th
Verdict – Short-term neutral. DCE iron ore rebounded during the day, however the daily high failed to break the major resistance at 805.5. If a rejection further at 805.5 would bring iron ore back to consolidation. A breakthrough would lift iron ore to a short-run bullish trend. From hourly chart, slow stochastic KD created gold …
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Daily Ferrous Physical Review Oct 30th
Ferrous Market – MySteel 45 ports iron ore inventories at 127.63 million tonnes, up 3.48 million tonnes w-o-w. Daily evacuation 3.13 million tonnes, up 47,700 tonnes w-o-w. Australia iron ore 60.30 million tonnes, up 1.72 million tonnes w-o-w. Brazil iron ore 39.39 million tonnes, up 2.39 million tonnes w-o-w. 149 ships at ports, down 2. …
Evening Oil Report 29/10/20
Click below link for the Evening Oil Report Click below link for the September Monthly Report For more information please contact FIS Oil Desk info@freightinvestor.com UK number: +44 (0) 207 090 1134 Shanghai number: +86 (0)21 63012568
Oil Through the Looking Glass 29/10/20
*Asian Buyers Boost Physical Oil as Pandemic Punishes Futures* Traders have a view that China and India have bolstered demand for physical oil even though prices are being hammered by oversupply and demand problems that are sending shockwaves through the oil market, with lows on Thursday touching $36.64 before bouncing back up at midafternoon. Chinese …
Singapore Iron Ore Derivatives Report 29/10/20
Market Commentary Iron ore futures were largely flat on Thursday as investors weighed rising global supplies against declining steel inventories. Fortescue Metals Group Ltd, the no. 4 exporter, said on Thursday that quarterly shipment climbed 5% and that it is considering options to increase cargoes from Australia. This came after Brazilian producer Vale is ramping …
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Agri-Freight Report 29/10/20
Click below link to view the Agri-freight report For more information please contact FIS Agri freight Desk luisf@freightinvestor.com London +44 (0) 207 090 1120 Direct +44 (0) 7543223444
Morning Oil Report 29/10/20
Brent crude futures were up 4 cents, or 0.10%, at $39.16 a barrel. U.S. West Texas Intermediate (WTI) crude futures edged up 7 cents, or 0.19%, to $37.46 a barrel by 0517 GMT. Brent lost over 4.5% during Wednesday’s session. Hurricane Zeta looked like it was about to bring a welcome break in supply …
DCE inches up on better steel margins
Iron ore futures maintained its upward climb after recent rally, driven by better steel margins from anticipated stricter environmental curbs. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange booked a small gain of 0.71% day-on-day to RMB 779.50/mt on Thursday. Similarly, the steel rebar contract on the Shanghai Futures Exchange …