Oil and Ore Intraday Morning Technical

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DCE dips on easing of supply tightness

Iron ore futures dropped further after a market selloff on lower steel prices amid the easing of supply tightness. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dropped by 5.07% day-on-day to RMB 796.50 per tonne on Wednesday. The steel rebar contract on the Shanghai Futures Exchange also followed the …

Fertilizer Financial Markets Commentary/Curves

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Capesize rates rally on good physical demand

Capesize freight rates rallied further due to better shipping demand in the physical market. The Capesize 5 time charter average then rose $205 day-on-day to $15,942 on Tuesday, following the improvement in market sentiment. The Baltic Dry Index (BDI) thus rose slightly by 0.55% or 7 points day-on-day to 1,282 readings on the active shipping …

Iron Ore DCE January Daily Technical Review Sep 16th

Verdict – Short-term bearish. DCE iron ore correct over the second day with increasing volume and open interest, indicating new short positions are dominating the market in short-run. In mid-run, a breakdown on 808.0 level indicating mid-run bearish market. From hourly chart, slow stochastic KD deepened correcting. The first support is 777.5. The first resistance …

Daily Ferrous Physical Review Sep 16th

Ferrous Market –    Construction steel consumption is less than expectation in traditional building season in September. Trading volume is weaker compared to August. In addition, construction steel inventories are at historical high level. –    Mysteel Australia and Brazil iron ore delivery at 26.34 million tonnes, up 2.59 million tonnes. Australia iron ore delivery 18.17 million …

Capesize & Panamax FFA Daily Report

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