Author archives: Hao Pei

Daily Virtual Steel Mill Report 29/3/21

Market Verdict on Iron Ore： ·         Iron ore neutral. Macro Market: ·         Suez Canal Admission: Ever Given in Suez Canal successfully float, however no more details on the recover date of the Canal. ·         U.S. president Biden planned to announce a statement related to infrastructure investment and green energy plan. Iron Ore Key Indicators: ·         …

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China Wuxi Cobalt Index Weekly Technical Review 29/3/2021

Verdict – Short-term neutral to bullish. China Wuxi Cobalt recovered slowly last week, however with significant decrease on both interest and volume since mid-March. Slow stochastic KD created gold cross near oversold area on March 24th. CCI rebound since March 12th. Technical signals were indicating a potential to extend rebound. The first support is 325.0. …

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Iron Ore DCE May Daily Technical Review 15/3/21

Verdict – Short-term neutral. DCE iron ore may contract tested low from February 8th, and then recover some gains during the day session. The major short positions were on September contract. The rolling expected to complete in late March seasonally. Hourly slow stochastic KD potentially create a gold cross above oversold area. CCI rebounded. Short-run …

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Ferrous Daily Physical Review 15/3/21

Ferrous Market –    Steelbank construction steels inventory 10.29 million tonnes, up 0.35% w-o-w. HRC inventories 3.14 million tonnes, up 4.12% w-o-w. –    Tangshan held a emergent meeting on March 13th, the mayor of Tangshan required manufacturing industry to follow the production curb strictly, to cut 50% of carbon emission. –    China physical coke down 100 …

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Iron Ore DCE May Daily Technical Review 11/3/21

Verdict – Short-term neutral. DCE iron ore may contract rebounded significantly during the Asian day session, the noon push was related to copper. In addition, Shanghai equity created second biggest rebound of the year. Hourly MACD created a gold cross during the second hour of this morning. Hourly slow stochastic KD created gold cross during …

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Ferrous Daily Physical Review 11/3/21

Ferrous Market –    Tangshan 10 sample steel mills pig iron before tax 3174 yuan/tonne, billet cost 4024 yuan/tonne, down 22 yuan/tonne w-o-w. Gross profit 266 yuan/tonne, down 98 yuan/tonne. –    MySteel Rebar Inventory: Rebar production 3.49 million tonnes, up 3.28% w-o-w. Mills inventory 5.30 million tonnes, up 1.49% w-o-w. Circulation inventory 13.02 million tonnes, down …

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Iron Ore DCE May Daily Technical Review 10/3/21

Verdict – Short-term neutral. DCE iron ore may contract consolidated during the trading day. Be aware of new short positions building in next trading day, since the intraday settlement was high yesterday, which limit the theoretical downside room for iron ore today. CCI created a bullish divergence with candles for the previous six trading hours. …

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Ferrous Daily Physical Review 10/3/21

Ferrous Market –    Ganggu Construction Steel Inventory: production 5.18 million tonnes, up 106,900 tonnes w-o-w. Mills inventory 10.37 million tonnes, up 165,500 tonnes w-o-w. Circulation inventory 17.55 million tonnes, up 601,000 tonnes w-o-w. –    Baosteel increase HRC price in April by 300 yuan/tonne from March. –    MySteel Australia and Brazil iron ore total delivery at …

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