FIS API Blog
Capesize rates had a meteoric rise for the week, jumping from $13,000 base level to over $25,000 level by the end of week on good shipping demand. The Capesize 5 time charter average made a gain of $231 day-on-day to $25,511 on Friday, spotting one of the smallest gains of the week as compared to …
Continue reading “Capesize hits a new norm at $25,000 level”
Iron ore futures held at around $100 on Friday as supply concerns eased. Latest data showed that Brazil’s iron ore exports increased by 1.4 million tonnes during the first nine days of Jun to 1.64 million tonnes per day. Meanwhile, Vale is gradually resuming operations at its Itabira complex after receiving the green …
Continue reading “Iron ore holds at $100 as Brazil supply fears ease”
Following talks in Hawaii this week China intends to increase purchasing of U.S agricultural products as it tries to meet its obligations to the phase one trade deal. The world’s largest soybean importer is playing catch up after falling behind due to the COVID-19 pandemic. An unnamed source told Bloomberg news that the Chinese …
Continue reading “China Continues to Purchase U.S. Agricultural Products”
Capesize rates reached another new height again and broke the $20,000 level amid the freight rally. Thus, the Capesize 5 time charter average increased by $6,244 day-on-day to $25,280 on Thursday, another year-high rates, even after a selloff by trade participants for profit-taking. Supported by robust Capesize market, the Baltic Dry Index (BDI) achieved the …
It is one of the best-known Beatles songs from their final studio album Let It Be, but it also encapsulates perfectly the challenge many commodity markets face as they begin to recover from the enormous disruption of Coronavirus. The pandemic has impacted every metric you can think of: quantitative easing, government debt, unemployment, share …
Capesize rates continued to chase new height for the year, buoyed by the strong shipping and iron ore demand. The Capesize 5 time charter average rose by $4,250 day-on-day to $19,036 on Wednesday, another year-high as the paper market saw over 8,000 lots change hands by the close of trading day. Likewise, the Baltic Dry …
*Fuel Demand to Remain Under Pressure* OPEC predicts that demand for fuel will continue to struggle into the second half of the year due to the effects of the virus. The group has kept its forecast for oil consumption unchanged predicting a 9% fall in demand, however it cut its supply needs by 2.17 mbd. …
Iron ore futures rebounded on Wednesday but was capped around $101 as investors kept a worried eye over the latest Coronavirus situation in China. Beijing stepped up its containment efforts following a cluster of new cases in Beijing and triggered a selloff yesterday afternoon as investors were worried of a second wave of cases. …
Continue reading “Iron ore rebound capped on COVID rebound fears”
