Capesize rates to bottom out from slump

Capesize freight rates dipped slightly on limited shipping activities and market expectation that it might bottom out after the recent slump.   Thus, the Capesize 5 time charter average then fell modestly by RMB 231 day-on-day to $15,550 on Friday, as the physical market seemed to find a floor, while the paper market braced for …

Morning Oil Report 02/11/20

Brent crude futures for January dropped $1.34, or 3.5%, to $36.60 a barrel by 0410 GMT, while U.S. WTI futures fell $1.41, or 3.9%, to $34.38. Brent ICE futures lost just under 10% for the week as the market looks to try to absorb increasing supply gluts.   Without the risk of sounding repetitive, the …

Iron Ore DCE January Daily Technical Review Nov 2nd

Verdict – Short-term neutral. DCE iron ore created doji and rejected by major resistance arround 805.5. Hourly candles are indicating iron ore created an ascending triangle, a short-run bullish pattern. However iron ore needs to confirm breakthrough level 805.5. Otherwise potentially narrowing in smaller range. Hourly MACD is also weakening. Hourly slow stochastic KD is …

Daily Ferrous Physical Review Nov 2nd

Ferrous Market –    Steelbank Inventory: construction steel inventories 5.80 million tonnes, down 8.15% w-o-w. HRC 2.09 million tonnes, down 3.33% w-o-w. –    China ferrous physical market rebounded over weekends, coke up 50 yuan as the six round of increase. Eastern steel mills rebar up 50 yuan in Monday morning. Eastern China heavy scrap up 50 …

Singapore Iron Ore Derivatives Report 30/10/2020

Iron Ore Market Update Market Commentary Iron ore futures rallied to $116 in London morning as investors continued to assess rising port stockpiles against the strength of China’s steel market as the country continues its recovery from the coronavirus pandemic. Iron ore futures were initially lower in Asia as the latest MySteel data showed that …