Monthly archives: December 2020

Daily Ferrous Physical Review Dec 24th

Ferrous Market –    Tangshan 10 sample steel mills pig iron before tax 2702 yuan/tonne, billet cost 3474 yuan/tonne, up 110 yuan/tonne w-o-w. Gross profit 396 yuan/tonne, up 100 yuan/tonne. –    China will reduce some waste metal custom tax to 0. Mongolia coke custom tax reduced from 5% to 2.5%. –    MySteel Rebar Inventory: Rebar production …

Continue reading “Daily Ferrous Physical Review Dec 24th”

Iron Ore DCE May Daily Technical Review Dec 24th

Verdict – Short-term neutral. DCE iron ore spiked and retreat from the high during last trading hour. Iron ore consolidate in the range 1027.5- 1059.0 area in short-run potentially. Hourly slow stochastic KD potentially create dead cross. Hourly MACD flattened during last two hours. Technical signals were indicating neutral. The first support is 1127.5. The …

Continue reading “Iron Ore DCE May Daily Technical Review Dec 24th”

DCE corrects from trading limits

Iron ore futures continued to correct after another choppy session, as market participants felt the effect of trading limits imposed by the exchange. Thus, the most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) went down by 5.78% or RMB 62.50 to RMB 1,027/mt on Wednesday. The steel rebar contract on the Shanghai …

Continue reading “DCE corrects from trading limits”