FIS API Blog
Capesize rates gained slightly despite holidays across Europe that took off several players out of the market. Despite of thin trading, the Capesize 5 time charter average hiked by $279 to $3,648 on Monday, without any noticeable change in the physical market. In the meantime, the Baltic Dry Index (BDI) had gained steadily to 520 …
Continue reading “Capesize rates hike up amid European holidays”
Ferrous Sector Money-flow: DCE iron ore aggregated open interest reached a high at 1.18 million lots on February 21 as well as creating periodic high, following a correction of 19.26%. The open interest high last week was 1.15 million lots. Long positions need to be aware of the similar correction happen for the second time …
Continue reading “Iron ore consolidation points to potential reversal”
Iron ore futures soared on Monday after latest data indicated that China is recovering robustly from the coronavirus pandemic. The Caixin/Markit Manufacturing Purchasing Manager for May came in at 50.7, better than both market estimates and the reading of previous month of 49.6 and 49.4 respectively, indicating that China is expanding faster than expected. …
Continue reading “Iron ore soars on China recovery, supply fears”
Market participants were in doubt if the Capesize market would continue to enjoy higher rates over potential supply outages from Brazil. The expected lower volume from Brazil was met with high iron ore prices that firmed up rates as the Capesize 5 time charter average jumped by $141 to $3,369 on Friday. The jump was …
Continue reading “Capesize rates gains despite mixed market outlook”
Brent crude was unchanged at $37.84 a barrel, in the first day of trading in the contract with August as the front month. WTI crude futures for July delivery were at $35.53 a barrel, up 4 cents, or 0.1%, by 0629 GMT. OPEC+ is set to discuss a short extension of its current output cuts, …
Continue reading “Oil tries again to accentuate the positives”
Sluggish Pacific and Atlantic had dragged down Capesize rates and reversed much of the gains that occurred in previous week. By Thursday, the Capesize 5 time charter average went down further by $558 to $3,228, despite more buyers entry at the afternoon session in trying to lift the market. Given the volatile Capesize rates and …
One thing that has confusingly held true up to now was that, against all the trends of many other commodities and market, iron ore kept on rising. It has been the black sheep of the markets, standing there, teeth gritted, weathering the storm that had swept away many other markets. However, just as other markets …
We are seeing History in the making when the European Union announced its 750 billion- Euro ($824 billion) recovery package, aimed at boosting economic growth and creating a swathe of new jobs. The capital injection will have global financial markets breathing a sigh of relief, following the commitment from China at the Two Session to …
Iron ore futures advanced again on Thursday amid ongoing supply concerns from Brazil. Brazilian miner Vale is the subject of an anti-corruption lawsuit; with the company alleged to have hindered inspections at the site of a dam that was collapsed early last year. Furthermore, it was reported that there had been a sudden …
Continue reading “Iron ore futures surge as inventories dive”
Capesize market came under pressure again amid bearish market sentiment for June. Thus, the Capesize 5 time charter average went below $4,000 level again, after a drop of $334 to $3,786 on Wednesday. The volatile bunker market did not help to support the freight rates and thus the Baltic Dry Index went downhill by 0.79% …
