Monthly archives: December 2021

Ferrous Trade Weekly Review 3/12/21

A total of 730,000 mt of iron ores was traded for the week ended Dec 3, amid thin market activity, though market participants expected more steel production in December. This was due to the relaxation of production curbs in Tangshan, though the policy may reverse soon to improve the air quality ahead of the Winter …

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Oil and Products Morning Report 03/12/21

Good morning. OPEC+ surprised the market yesterday choosing to stick to its plan of increasing oil output by 400Mbbbls/d in January. This would mean that under the deal, the group can produce 40.49MMbbls/d over the month with OPEC’s share totalling 24.55MMbbls/d.  Expectations heading into the meeting were that the group would at least pause supply …

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Iron Ore DCE May Daily Technical Review 03/12/21

Verdict – Short-term neutral. DCE iron ore May22 contract consolidate in a narrower range during the day, however iron ore created a consecutive lower lows and lower highs over the past two trading days. Hourly CCI created a bottom reversal pattern. Hourly slow stochastic KD created gold cross above oversold boundary. Technical signals were indicating …

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Daily Virtual Steel Mill Report 3/12/21

Market Verdict on Iron Ore： ·         Neutral. Macro ·         China automobiles association estimated November China auto sales 2.47 million, up 5.95% m-o-m, down 10.8% y-o-y. ·         OPEC+ draft indicated January daily production increased by 400,000 barrels. OPEC+ potentially adjust production increase schedule when market changes. Iron Ore Key Indicators: ·         Platts62 $98.35 (-3.05), MTD 99.88. …

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Daily DCE Review 3/12/21

Iron ore futures plunged further on higher port inventory, despite some improvement in daily consumption of imported iron ores. The futures of Dalian Commodity Exchange (DCE) for January delivery then dropped by 3.08% day-on-day or down RMB 19 to RMB 597/mt, during the day trading session on Friday. The rebar futures however, hiked up by …

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