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FIS Technical – Capesize Index
Technically bullish on the Capesize index, there is a bearish divergence in play with the RSI. However, this is not a sell signal more a warning that we could potentially see momentum slow down. The divergence would suggest that upside moves could struggle at resistance levels. Price action below USD 11,705 would create a fresh…
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FIS Daily Ferrous Report
A rather static day for iron ore today after the big moves of the last couple of days, DCE stuck in the high 730′- low 720’s eventually to close at 728.5. Jun traded between 100-101 for most of the day, with Q3 trading 95.10-96.25. spreads came under a little bit of pressure, the Jun/Jul trading…
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The iron ore bull charge continues – $100 mark reached and kept rising, June to 101.15
The iron ore bull charge continues, with DCE ramping up to 733, giving a little back to close at 728. The $100 mark was reached and kept on rising, Jun trading up to 101.15, trading 101.00 last. Q3 was active throughout the day, trading 94.85 up to 96.15. Further out the Cal20 traded at 82.00…
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FIS Daily Ferrous Report
– Iron ore prices remained above $100/mt on low inventories, as Platts assessed the 62% Fe Iron Ore Index at $101/dry mt CFR North China on Tuesday, up 60 cents/dmt from Friday. It was heard that the small-to-medium-sized mills were low on inventory and bought from port stocks to replenish inventory and meet production needs.…
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FIS Technical – Panamax
The index remains bullish and in trend at this point. Momentum indicators are starting to look overextended (21 period RSI) suggesting we could see a momentum pullback soon. Index pullbacks that hold above the USD 9,499 support remains above the Fractal support and therefore bullish. To view the full report please click on the link …
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Iron ore rallies again – domestic stocks could enter the market
-Iron ore rallied toward $100/mt level due to replenishment needs from Chinese mills. As such, Platts assessed the 62% Fe Iron Ore Index at $98/dry mt CFR North China Thursday, up $3.45/dmt from Wednesday. Bullish sentiments were driven by low inventory amid seasonal peak demand for Chinese steel mills. Besides, trade participants are anticipating the…
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FIS Daily Ferrous Report
– Iron ore prices had scaled down on limited restocking as Platts assessed the 62% Fe Iron Ore Index at $94.40/dry mt CFR North China on Monday, down $1.05/dmt from Friday. It was heard that end-users were concerned over high steel prices and thus limited their large-scale restocking. Moreover, market participants were also concerned over…
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FIS Market Trend Report
Iron Ore: More supply from CSN Brazil’s CSN produced 8.2m tonnes of iron ore for Q1 2019, up 34% on-year and up 11% on-quarter basis. Meanwhile, Vale’s iron ore production suffered a drop of 11% on-year to 72.9m tonnes during Q1 2019, due to Brumadinho dam rupture and rainy weather in Northern System. Despite the…
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Dry bulk FFA market: futures mixed amid escalating US-China trade
With a single Tweet from President Trump, the flames of the US and China trade war have rekindled and rattled the global markets. Political instability among the US and China shook the market confidence and prompted falling freight rates. However, the falls were also accelerated by lack of cargoes from Brazil after a court ruling reversed the restart of Vale’s Brucutu mine.
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FIS Technical – Panamax
Near-term the Panamax Index complex continues to hold in bullish territory with most of the futures being in some form of technical range. However, this is conflicting many of the weekly technical’s that remain in bearish territory as they approach resistance levels. The conflicting technical would suggest that upside breakouts would not be considered a…
