*Oil and Gasoil Lower on Opening, VLSFO Still in Backwardation on the Front Months* Oil and Gasoil were lower this morning, there was lots of volatility in both markets. The Euro and Sing FoGos remain stable continuing the trend from last week. Front month VLFSO remain in backwardation, with its HSFO counterparts teetering on the edge at around -0.25 to -0.5 spreads for Nov/Dec20. (FIS) *Chevron Restarting Offshore Gulf of Mexico Oil …
Category archives: Products
Daily Agri – Freight Report 12/10/20
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Freight Intraday Morning Technical 12/10/20
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DCE stays flat amid high steel stocks
Iron ore futures made small gain for the day due to the high steel stocks and little price movement in steel products. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange stayed almost flattish but inched up by 0.36% day-on-day to RMB 825 per tonne on Monday. The steel rebar contract …
Steel & Scrap Morning Report 12/10/20
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Capesize rates correct further on weak physical market
Capesize freight rates were on correction phrases and the paper market was on a selloff due to bearish sentiment. Thus, the Capesize 5 time charter average fell by $2,028 day-on-day to $29,479 on Friday, after aggressive selloff before finding some supports at the lows of the trading day. The Baltic Dry Index (BDI) then dropped …
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Oil and Ore Intraday Morning Technical
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Fertilizer Report 9/10/20
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Morning Oil Report 12/10/20
Brent crude fell 32 cents, or 0.8%, to $42.53 a barrel by 0347 GMT and WTI for November was at $40.30 a barrel, down 30 cents, or 0.7%. Sing 0.5% and Rott 0.5% spreads are still in backwardation on the front months, HSFO spreads, however, are just clinging onto negative territory. Hi5s continue to …
Iron Ore DCE January Daily Technical Review Oct 12th
Verdict – Short-term neutral. DCE iron ore correct slightly during the whole trading day. From hourly chart, MACD is potential to create a dead cross. Slow stochastic KD created dead cross above overbought area. CCI has created new low in October. If iron ore breakdown 809.0 area potentially drive market to bearish territory, otherwise iron …
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