Ferrous Market – In the year 2020, China crude steel production 1.06 billion tonnes, up 7% y-o-y. Steel production 13.25 billion tonnes, up 10% y-o-y. China export 53.67 million tonnes of steel, down 16.5% y-o-y. Import steel 20.23 million tonnes, up 19.8% y-o-y. – Steel bank construction steel inventory 9.81 million tonnes, up 9.14% w-o-w. …
Author archives: Hao Pei
Iron Ore DCE May Daily Technical Review 25/2/21
Verdict – Short-term neutral. DCE iron ore pick up fast this afternoon however correct back few minutes after. U.S. Dollar linked metal indicated very high correlation over the entire February. U.S. dollar broke important level at 90 at noon. Hourly candles were in the consolidation range. Hourly MACD was narrowing below 0 axis. Hourly CCI …
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Ferrous Daily Physical Review 25/2/21
Ferrous Market – South Africa invested 250 million U.S. dollars into a new iron ore separation method(UHDMS) to increase the quality of Sishen mines, which expected to increase the mining cycle by 4 years to the year 2039. The project was approved by Kumba commission. – Tangshan 10 sample steel mills pig iron before tax …
Iron Ore DCE May Daily Technical Review 24/2/21
Verdict – Short-term neutral. DCE iron ore consolidated in narrow range after a big movement before and after Powell’s speech. Be aware of the lower lows and lower highs created over the three trading days of the week. A breakdown on 1089- 1090 area would potentially initiate a correction and chances to fill the gap …
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Ferrous Daily Physical Review 24/2/21
Ferrous Market – Brazil miner CSN Q4 iron ore production 9.47 million tonnes, down 18% from Q3, down 11.4% y-o-y. Q4 iron ore sales 8.64 million tonnes, down 6% from Q3, down 16.4% y-o-y. – MySteel estimate year 2021 iron ore delivery increase 96.3 million tonnes, major contributed by Brazil, India, and U.S.. Q1 supply …
FIS Weekly Ferrous Report 23/2/2021
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Iron Ore DCE May Daily Technical Review 22/2/21
Verdict – Short-term neutral. DCE iron ore create historical high during the first 3 minutes by Asian opening, however gave back most of gains during the day. Hourly MACD softened below 0 axis. Hourly CCI potentially create a bearish divergence with iron ore price. The after CNY iron ore growth was majorly contributed by the …
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Ferrous Daily Physical Review 22/2/21
Ferrous Market – Steelbank construction steels inventory 8.98 million tonnes, up 45.17% compared with the week before Chinese New Year. HRC inventories 3.398 million tonnes, up 50.57% compared with the week before Chinese New Year. – Heard Tangshan potentially execute harsh environment cut on steel rolling mills, some mills stop selling steels after hearing this …
China Wuxi Cobalt Index Weekly Technical Review 22/2/2021
Verdict – Short-term neutral. China Wuxi Cobalt picked up significantly in line with global metals during past two weeks. However Cobalt reached Elliot wave 4 and almost exhaust the theoretical height of a standard wave 4. Slow stochastic KD increase. CCI was approaching the high of 2021. Short-term be aware of a test high and …
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Iron Ore DCE May Daily Technical Review 19/2/21
Verdict – Short-term neutral. DCE iron ore corrected back after created new high since late December. The correction also trigger some divergence on market sentiment. A rejection on 1145.0- 1147.0 would indicate iron ore need more time to find the new direction. Hourly MACD dead cross below 0 axis. Hourly KD create dead cross above …
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