Author archives: Hao Pei

Verdict – Short-term neutral. DCE iron ore tested both high and low during the trading day. Iron ore finally recovered some losses after tested 1016.0 area twice during the day. A breakthrough on 1048.5 and 1069.5 potentially trigger a strong rebound in mid-run. From hourly chart, MACD flattened. Hourly KD potentially create gold cross, however …

Continue reading “Iron Ore DCE May Daily Technical Review Jan 6th”

Ferrous Market –    Steelbank Inventory: construction steel inventories 3.19 million tonnes, down 7.92% w-o-w. HRC 1.27 million tonnes, down 0.51% w-o-w. –    Some physical traders heard FMG increase discount from 7% to 10% on FMG SSF, and 4% to 8% on FMG BF. –    Jan 4th : MySteel 45 ports iron ore inventories at 124.16 …

Continue reading “Daily Ferrous Physical Review 4/1/21”

Verdict – Short-term neutral to bullish. DCE iron ore rebound significantly by 3.35% with smaller aggregated trading volume for the second trading day, indicating market was running on bullish sentiment without significant conflictions. From hourly chart, CCI created new high from November 9th. Small stochastic KD widened after gold cross. The first support is 972.0. …

Continue reading “Iron Ore DCE May Daily Technical Review 4/1/21”

Ferrous Market –    MySteel Rebar Inventory: Rebar production 3.5 million tonnes, up 1.02% w-o-w. Mills inventory 2.58 million tonnes, up 15.27% w-o-w. Circulation inventory 3.64 million tonnes, up 0.43% w-o-w. –    Tangshan 10 sample steel mills pig iron before tax 2796 yuan/tonne, billet cost 3581 yuan/tonne, up 107 yuan/tonne w-o-w. Gross profit 159 yuan/tonne, down …

Continue reading “Daily Ferrous Physical Review Dec 31st”

Verdict – Short-term neutral. DCE iron ore consolidated within the narrow range from 972.0 – 998.0. A breakdown on 959.0 would indicate iron ore back to bearish territory. A breakthrough on 1005.0 would potentially initiate a new round of strong rebound. Hourly CCI started to grow from 29th. Technical signals were indicating iron ore consolidate. …

Continue reading “Iron Ore DCE May Daily Technical Review Dec 31st”

Ferrous Market –    MySteel Australia and Brazil iron ore total delivery at 29.75 million tonnes, down 4.58 million tonnes w-o-w. Australia iron ore delivery 21.72 million tonnes, up 3.42 million tonnes w-o-w. Australia delivery to China 18.54 million tonnes, up 4.23 million tonnes w-o-w. Brazil iron ore delivery 8.03 million tonnes, up 1.16 million tonnes …

Continue reading “Daily Ferrous Physical Review Dec 30th”

Verdict – Short-term neutral to bearish. DCE iron ore created the high since December 10th, the first significant resistance at 1005.5. A breakdown on 959.5 potentially bring market back to bearish territory. From hourly chart, MACD was narrowing below 0 axis. Hourly slow stochastic KD created gold cross on the upper bound of oversold area. …

Continue reading “Iron Ore DCE May Daily Technical Review Dec 30th”

Verdict – Short-term neutral to bearish. DCE iron ore retreated after rejection below important resistance at 1069.5 last Friday. Mid-run iron ore consolidate between 992.0-1069.5 area. However a breakdown on 990.5-992.0 area would indicate a potential reversal to bearish territory in long-run. Hourly CCI corrected from one week high to one week low during one …

Continue reading “Iron Ore DCE May Daily Technical Review Dec 28th”