Monthly archives: January 2021

Morning Oil Report 13/1/21

Oil prices gained more than 1% on Wednesday, with U.S. crude rising for a seventh day, after industry data showed a bigger than expected drop in inventories and investors shrugged off worsening developments in the pandemic. Anger and uncertainty surrounding the impeachment of the current US president is seemingly have little to no effect on …

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DCE moves flattish amid slow construction steel demand

Iron ore futures had a choppy session today, reaching a peak at the close of the morning session, but only to decline later in the afternoon session. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) however, managed to stay positive and rose slightly by 0.10% on-day or RMB 1 to RMB …

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Daily Ferrous Physical Review 13/1/21

Ferrous Market –    Ganggu Construction Steel Inventory: production 5.12 million tonnes, down 142,700 tonnes w-o-w. Mills inventory 5.27 million tonnes, up 335,300 tonnes w-o-w. Circulation inventory 6.21 million tonnes, up 272,500 tonnes w-o-w. –    Samarco shipped 75,000 tonnes of pellets from Brazil to Europe, first laycan after restart the operation. Samarco recovered 26% utilisation rate, …

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Iron Ore DCE May Daily Technical Review 13/1/21

Verdict – Short-term neutral to bearish.   DCE iron ore corrected, however majorly consolidate between 1022.0- 1060.0 area. The trading volume down significantly. From hourly chart, MACD was flattened below 0 axis. Hourly slow stochastic KD created dead cross below overbought area. CCI created a double tops from hourly chart, indicating a correction potential.   …

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