Monthly archives: November 2020

DCE slides on lower steel prices

Iron ore futures went down on lower steel prices, following the slowdown in Chinese construction activities as winter approached. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dropped by 1.20% or RMB 10.50 day-on-day to RMB 867.50/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange also …

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Capesize rates rebound on improving basins

Capesize freight rates rebounded from previous losses due to improvement in cargo lists for  both the Pacific and Atlantic basins. The Capesize 5 time charter average inched up slightly by $39 day-on-day to $11,897 on Friday, amid better freight rates in both basins. The Baltic Dry Index (BDI) then increased by 1.23% or 14 points …

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Iron Ore DCE January Daily Technical Review Nov 23rd

Verdict – Short-term neutral to bearish. DCE iron ore Jan contract leaked in the first Asian morning session with the biggest one hour trading volume since Nov 6th, indicated the current high became a resistance level. The low of the day was same point as the high in Nov 17th at 861.5. A breakdown on this level …

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Daily FerrousPhysical Review Nov23rd

Ferrous Market – Steelbank Inventory: construction steel inventories 3.92 million tonnes, down 12.67% w-o-w. HRC 1.58 million tonnes, down 8.68%. – Tangshan 8 mills average pig iron pre-tax cost 2446 yuan/tonne, billet after-tax cost 3181 yuan/tonne, up 2 yuan/tonne. Gross profit 449 yuan/tonne, up 48 yuan from last week. – Peru Mining statistic indicated iron ore September production at …

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