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  • Things could be worse…

    Chinese crude oil imports surged to an all-time high of 10.43 million bpd last month, up by 8.5 percent compared to November 2017 and beating the previous record of 9.61 million bpd, which was set just a month earlier and was driven by smaller independent refiners who were rushing to fulfill their 2018 oil import…

  • OPEC’s early Christmas present

    We saw oil prices surge Friday after OPEC and some non-OPEC producers including heavyweight Russia announced they would cut oil supply by 1.2 million bpd, with an 800,000 bpd reduction planned by OPEC-members and 400,000 bpd by countries not affiliated with the group. It was bound to happen, was anyone in any real doubt that…

  • Deal or no deal?

    The oil market is currently being weighed down by weak global financial markets  which saw stock markets tumble, and the seemingly everlasting wait for OPEC to meet and decide what they are going to do. The oil-rich nations must be looking at predictions of the market falling to lows of $30 through gritted teeth. They…

  • FIS Daily Iron Ore: it’s 65% day!

    A roofer on the Chinese futures on the open this morning, iron ore pushing to 507.5 before tailing off again and remaining rangebound for the balance of the day to close 495.5, whilst rebar pumped to 3,493 before giving back 158 rmb to close 3,333. Dec traded in a 66.75 and down to 65.50 whilst…

  • FIS among first brokers of cleared 65% FE iron ore futures contract

    Leading inter-dealer brokerage concludes trade on new contract, reflecting shift towards high grade product and enable enhanced risk management

  • High Five for Oil Rally

    The G20 meeting in Argentina seemed to calm of the market of further trade tensions and this message had been interpreted by market participants for oil rally on Monday.

  • FIS Daily Iron Ore Market Report

    A calmer day on the swaps today after the madness of yesterday, the DCE ticking down to a low of 459 mid-afternoon before recovering some of its losses to close at 465.5. Dec ranged 63.00 – 63.50 with Jan 62.00 – 62.85, whilst a Q119 buying interest paid up to trade 62.05 and then 62.15…

  • FIS Shanghai Seminar 2018: New kids on the block

    The market is facing a transition with new trends and materials that might give a facelift to the current trading market that we know of.

  • Iron Ore Jan Contract (Dalian) Nov 27

    Verdict – Short-term maintain the bearish expectation. Iron ore failed to fill the previous gap and created a continuous gap last night. Ferrous related products are heading south in general. The first breakthrough on 477.5 would bring up iron ore to 494-496 area potentially. However a breakdown on 457 would pull back iron ore as…

  • G20 and OPEC meetings ramp up war of words

    Crude prices slipped back on Tuesday, pulled down by record Saudi Arabian production even as OPEC’s top producer pushes for supply cuts ahead of the group’s meeting in Austria next week. Saudi Arabia raised oil production to an all-time high in November, an industry source said on Monday, pumping 11.1 million to 11.3 million (bpd)…