Monthly archives: June 2021

FIS Singapore Iron Ore Derivatives Report 07/06/21

Market Commentary Iron ore futures fell sharply on Monday over as output restrictions have been extended outside Tangshan while seasonal factors have also dampened the mood for the steelmaking ingredient. Steel rolling mills in Tangshan’s Fengrun District will have their output slashed for the week between 5th and 13th June. The fresh restrictions will affect …

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Daily DCE Review 7/6/21

Iron ore futures dropped on Monday, due to market concerns over unfavorable weather conditions in June and low import volume from previous month. The futures of Dalian Commodity Exchange (DCE) for September delivery then went down by 4.40% on-day or down RMB 51.50 to RMB 1,118/mt on Monday. The steel rebar contract on the Shanghai …

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Daily Capesize Review 4/6/21

Capesize freight rates softened amid thin physical activities and bearish shipping demand outlook, especially in the Atlantic basin. The Capesize 5 time charter average, then plunged down further by $1,169 day-on-day to $20,933 on Friday, from further selloff in paper market. The Baltic Dry Index (BDI) also dropped further by 1.38% or 34 points on-day …

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Iron Ore DCE Sep Daily Technical Review 7/6/21

Verdict – Short-term neutral to bearish. DCE iron ore September contract test low as expected from last Friday. The correction ended mid-run rebound. Hourly candles created a clear multiple top area, which was normally a reversal and bearish signal. The neckline at 1148.5, created very strong resistance. The intra-day support at 1115.5 was the major …

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Daily Virtual Steel Mill Report 7/6/21

Market Verdict on Iron Ore： ·         Iron ore short-run neutral to bearish. Macro ·         China will rely on step-by-step measures to slow the appreciation of the yuan, to restrict speculators and help local exporters avoid tough measures that may impede its goal of liberalizing the yuan and enhancing its global influence. The people’s Bank of …

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