FIS API Blog
China’s top leaders should reveal on Friday how much they’re planning to spend on stimulus to support the post-virus economy, when they belatedly announce their economic policy blueprint for the rest of 2020. The centerpiece event will be the work report delivered by Premier Li Keqiang, which typically contains the economic growth and spending targets, …
Continue reading “What to Watch as China Unveils Stimulus in Policy Meeting”
China streamlined its inspection rules for iron ore imports amid increasing debate about whether the $43 billion trade between the two nations will be caught up in their escalating spat. While the Global Times — a tabloid run by the flagship newspaper of the Communist Party — said the simplification of rules is aimed at …
Continue reading “China Simplifies Iron Ore Import Rules Amid Australia Virus Spat”
Capesize market rebound to better shipping demand, with improving freight rates in both the Atlantic and Pacific basins. Thus, the Capesize 5 time charter average rose by $587 to $3,462 on Tuesday, as some trade participants believed that the market had bottomed out. Buoyed by the better Capesize market, the Baltic Dry Index rose over …
Continue reading “Capesize continues the good run with better demand”
Capesize market continued its positive run with more fixings and stronger Pacific market that drove better freight rates. As such, the Capesize 5 time charter average rose by $481 to $2,875 on Monday, as some trade participants were heard to do “bottom picking” after another round of short covering. Driven by better Capesize rates, the …
Continue reading “Capesize extends positive run on better bunker prices”
Ferrous Sector Money Flow: DCE iron ore aggregated open interest is up 38.97% from April 29th and reached the highest level in Q2, coking coal decreased by 18.55% during the same period. Steel, coke and flat glass used in house construction remained stable on open interest. Investors should be aware of money flow out of …
Continue reading “China construction in the bubble, iron ore demand risk remains”
Capesize market seemed to turn around on better freight rates in key routes as cargoes volume returned. Thus, the Capesize 5 time charter average recorded at $2,394 on Friday, up by $402 day-on-day. Despite the rebound, Capesize rates were still almost in historical all time low, thus it may be too early to conclude that …
Continue reading “Capesize turns the corner with robust Pacific routes”
FIS Capesize Technical Report Technically bearish with limited downside as the index already has a USD 2k handle. Up USD 402 today would suggest the index is entering a countertrend move, however price that fails at or below USD 7,330 remains vulnerable to further tests to the downside. To view the full report please click …
