Monthly archives: August 2020

DCE loses steam after week-long rally

Iron ore futures came under pressure on Friday and suffered a correction, ending a week of bullish gains. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange dropped by 1.05% or RMB 9.50 day-on-day to RMB 896 per tonne on Friday. As such, the Shanghai Futures Exchange also dropped slightly by 0.60% …

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Iron Ore DCE September Daily Technical Review Aug 7th

Verdict – Short-term neutral to bearish. DCE iron ore September is expected to roll to January contract as major contract next Monday. The U.S. China tension once again linked commodities sector and equity very closely. Iron ore in general in a sentiment to test low. DCE iron ore evaporated 35,000 lots of positions which were …

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Daily Ferrous Physical Review Aug 7th

Ferrous Market –    Mysteel 45 major ports iron ores inventory 113.46 million tonnes, down 569,600 tonnes w-o-w. Daily evacuation 3.16 million tonnes, up 50,000 tonnes w-o-w. Austrilian iron ores inventory 61.24 million tonnes, down 1.3979 million tonnes w-o-w. Brazil iron ores inventory 26.53 million tonnes, up 810,900 tonnes w-o-w. 168 ships at ports up 9 …

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Morning Oil Note 7/8/20

Good morning all. Brent crude fell 6 cents, or 0.1%, to $45.03 at 2:46 am GMT, while WTI crude futures slipped 2 cents to $41.93 a barrel. The resurgence of coronavirus infections remains the main uncertainty in the oil market, as that will determine how fast fuel demand rebounds. Tallies show infections in the United States are …

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