Monthly archives: August 2020

DCE dips on cautious market sentiment

Iron ore futures ended the bullish run after iron ore prices reached a six year high recently on robust Chinese steel demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dropped by 1.40% or RMB 12 day-on-day to RMB 848 per tonne on Thursday. Similarly, the steel rebar contract on …

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Iron Ore DCE January Daily Technical Review Aug 20th

Verdict – Short-term bearish. DCE iron ore extend the correction from yesterday. Daily slow stochastic KD widened after the dead cross created yesterday. Daily MACD and CCI both created bearish divergence with iron ore price over a week. 851.5 changed from support to resistance level. Hourly chart CCI created new low since July 24th. Hourly …

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Morning Oil Report 20/8/20

Good morning all. Brent futures were down 36 cents, or 0.8%, at $45.01 a barrel by 4:42 am GMT, WTI futures were down 38 cents, or 0.9%, at $42.55 a barrel.   The US Federal Reserve released the minutes of its July Federal Open Market Committee meeting on Aug. 19 that highlighted the COVID-19 pandemic …

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Capesize rates weaken despite record-high iron ore prices

It was another softening day for the Capesize paper market despite robust steel demand in China that led iron ore prices to rise to a six-year high. The Capesize 5 time charter average went down by $225 day-on-day to $19,468 on Wednesday, despite another round of fixing spree by Brazil’s Vale for the Brazil to …

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Daily Ferrous Physical Review Aug 20th

Ferrous Market –    Ganggu: Construction steel production 5.73 million tonnes, up 0.17% w-o-w. Mills inventory 5.23 million tonnes, up 0.87% w-o-w. Circulation 11.33 million tonnes, up 0.47% w-o-w. –    MySteel Rebar Inventory: Rebar production 3.85 million tonnes, down 0.4% w-o-w. Mills inventory 3.67 million tonnes, up 1.16% w-o-w. Circulation inventory 8.67 million tonnes, up 0.96% …

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Steel and Scrap News 19/8/20

HMS 80:20 Turkish Scrap The week started with the Deepsea Turkish import scrap market softened slightly from Friday, as mills looked to push for lower workable prices, while recycler offers remained stable. Prices edge down in wait for demand to pick up. Suppliers keep offers stable with buyers staying on the side-lines causing prices to …

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