Daily Ferrous Physical Review Aug 5th

Ferrous Market –    Brazil iron ore July export 33.99 million tonnes up 13% from June. –    China 45 ports arrivals at 25.28 million tonnes, up 1.61 million tonnes. Northern six ports arrivals at 13.96 million tonnes, up 1.09 million tonnes. –    Mysteel iron ore deliveries at 23.73 million tonnes previous week, down 815,000 tonnes w-o-w. …

Capesize rates rally over congestion in the Pacific

Capesize rates started the week on bullish note as bad weather, crew replacement and stricter quarantine measures affected the tonnage supply. The Capesize 5 time charter average hiked up by $755 day-on-day to $19,051 on Monday, as market participants expected freight rates recovery over short term. Due to the improvement in Capesize, the Baltic Dry …

Oil Through the Looking Glass 4/8/20

*China Only Fulfilled 5% of Promised US Energy Purchases Under the terms of the China-US trade deal agreed last year China agreed to purchase some $25.3 billion worth of American oil products. Halfway through 2020 and they have only completed 5% of that target as the relationship between the two countries sours. China imported only …