Monthly archives: April 2022

Iron Ore DCE September Daily Technical Review 29/4/22

Verdict – Short-term neutral. DCE iron ore September contract created a four-day consecutive increase, however the trading volume and open interest decreased significantly. Traders were cautious before the China and Singapore Labour Day. Hourly slow stochastic KD maintained a healthy growth in overbought area. Hourly CCI hold on bullish territory. An effective breakthrough on the …

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Daily Virtual Steel Mill Report 29/4/22

Market Verdict on Iron Ore： • Neutral.   Macro • Chinese offshore yuan CNH depreciated 700 basis points at 6.66, dragged by the weakening of Japanese yen. • U.S. GDP Q1 growth rate -1.4%, created the first negative number since the Q2 2020, est.+ 1.1%, last +6.9%.   Iron Ore Key Indicators: • Platts62 $142.00, …

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Daily DCE Review 29/04/22

Iron ore futures extended gains on the trading session, though restocking activities came to an end ahead of the long holidays in early May. The futures of Dalian Commodity Exchange (DCE) rose by 4.19% day-on-day or up RMB 35 to RMB 869.50/mt, during the day trading session on Friday. The rebar futures also hiked by …

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Ferrous Trade Weekly Review 29/04/22

A total of 810,000 mt of iron ores was traded for the week ended Apr 29, as Chinese restocking activities came to close before the upcoming long holidays in China. There were also some market concerns over widening lockdown measures in China, though both major cities like Beijing and Shanghai experienced some stabilization over previous …

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Daily Capesize Review 28/4/22

Capesize freight rates dipped on the slow physical market, while the market remained at steep contango with some expectation that it would turn positive again. The Capesize 5 time charter average, then dropped by $639 day-on-day to $17,821 on Thursday, despite some improvement in the Pacific market. The Baltic Dry Index (BDI) then fell by …

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