Category archives: Products
*Oil Through the Looking Glass 13/7/20*
*The Easing of OPEC’s Cuts?* With returning demand OPEC could start to loosen its production cuts after its recent move at strict adherence to the agreement. Saudi Arabia, who had previously been the main driver behind getting absolute compliance with the cut agreement from all participants, apparently is now pushing to an easing of the …
Capesize rates correct on muted market activity
Capesize rates dropped on limited market activity as some trade participants were away due to public holiday in Singapore. The Capesize 5 time charter average dipped by $437 day-on-day to $27,644 on Friday, as the paper market was muted and rangebound due to the Singapore holiday. Due to the quiet market, the Baltic Dry Index …
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Fertilizer Financial Markets Commentary/Curves
DCE continues to rally from last week gains
Chinese futures ended the afternoon session on gains and continued the rally seen last week in view of market optimism and possible supply tightness from Brazilian suppliers. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, rose by RMB 38 or 4.80% day-on-day to RMB 829 per tonne on …
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Steel & Scrap 13-07-20
Oil and Ore Intraday Morning Technical
OPEC+ ponders when and how far to cut
OPEC’s Joint Ministerial Monitoring Committee (JMMC) will meet on Tuesday and Wednesday to recommend the next level of cuts after compliance in the group hit 107% in June, up from 77% in May. Record high inventories in the US and a second wave contagion around the globe have added speculation that OPEC+ might yet …
Iron Ore DCE September Daily Technical Review Jul 13th
Verdict – Short-term neutral to bullish. DCE iron ore rebounded and saw massive short covering during Asian hours. Daily candle successfully created new high and led iron ore to bullish territory in mid-run. However from hourly chart, slow stochastic KD is narrowing above over-bought area. CCI is correcting to 100 area from the weekly high. …
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Daily Ferrous Physical Review Jul 13th
Ferrous Market Updates – Steelbank Inventory: rebar inventories 9.98 million tonnes, up 16.11% w-o-w. HRC 3.47 million tonnes, up 21.45%. – Mysteel early July crude steel production expected 2.93 million tonnes/daily, down 0.64% from end-June. – Brazil Miners Association president Flavio Penido said Brazil can run all iron ore miners and recover the production. Mining …