Tag archives: SM

FOMO drives China iron ore sentiment

Iron ore futures rallied sharply on the first trading day of the week on market optimism over steel demand as China’s recovery gathered momentum. An upturn in industrial output suggests that the economy expanded in last quarter after cratering in the opening three months due to the coronavirus impact, according to Bloomberg Economics. The robust …

Continue reading “FOMO drives China iron ore sentiment”

Short term crude direction waits on data

Newly reported coronavirus cases and mobility data, including an EIA report on gasoline consumption coming out later this week, will be watched by market participants in order to determine the short-term direction of crude prices in the next few days.   On the supply side OPEC+ production is at its lowest since 1991 and is …

Continue reading “Short term crude direction waits on data”