FIS API Blog
Verdict – Short-term neutral. DCE iron ore rebounded massively on the first day after Chinese New Year. However the highest of the day was only 14 yuan higher than the high of the first minute in the morning, indicating the following buyers were not extreme confident to bring market to next new level during the …
Continue reading “Iron Ore DCE May Daily Technical Review 18/2/21”
Ferrous Market – MySteel Rebar Inventory: Rebar production 3.09 million tonnes, down 4.06% w-o-w. Mills inventory 5.12 million tonnes, up 51.5% w-o-w. Circulation inventory 10.09 milliontonnes, up 37.9% w-o-w. – Tangshan started harsh environment control started from February 16th, without mentioning the end date. – MySteel researched 7 ports from Australia and Brazil iron ore …
Ferrous Market – China Ministry of Information and Industry Technology: prohibit new steel making capacity by decrease both steel capacity and production in the year 2021. It was the first time the department mentioning about production control over the decade. – Mongolia major coal export ports closed during Feb 11 – 14th. Ports reopen in …
Verdict – Short-term neutral, be aware of reversal after Chinese New Year. DCE iron ore rebounded during the last few minutes due to long positions escaping during the last chance before a week long Chinese New Year holiday. The previous week rebound of iron ore was inline with metals rebound after a positive prediction of …
Continue reading “Iron Ore DCE May Daily Technical Review 10/2/21”
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Verdict – Short-term neutral. DCE iron ore rebounded significantly during the morning, however last three hours consolidated. Both open interest and volume decreased compared to last Friday. Hourly KD flattened on the overbought area. Hourly MACD potentially create dead cross with current price. Technical signals indicated iron ore exhausted and be aware of reversal. The …
Continue reading “Iron Ore DCE May Daily Technical Review 8/2/21”
Ferrous Market – Russia Miner Metalloinvest Q4 production 10.07 million tonnes, down 1% from Q3. Year 2020 total production 40.43 million tonnes, up 0.5% y-o-y. Q4 iron ore delivery 2.14 million tonnes, down 8.1% from Q3. – Steelbank construction steels inventory 6.19 million tonnes, up 28.68% w-o-w. HRC inventories 2.257 million tonnes, up 15.01% w-o-w. …
Verdict – Short-term neutral. DCE iron ore extended the rebound, however resisted by 1017.0 level twice during the day. A breakthrough on 1017.0 would keep push iron ore price. From hourly chart, MACD was flattening. Hourly KD created a dead cross on overbought area. Hourly CCI corrected from this morning and created bearish divergence with …
Continue reading “Iron Ore DCE May Daily Technical Review 5/2/21”
Ferrous Market – MySteel 45 ports iron ore inventories at 125.19 million tonnes, up 186,900 tonnes w-o-w. Daily evacuation 3.28 million tonnes, up 239,400 tonnes w-o-w. Australia iron ore 58.49 million tonnes, up 237,000 tonnes w-o-w. Brazil iron ore 43.59 million tonnes, down 119,800 tonnes w-o-w. 169 ships at ports, down 32. – India financial …
Verdict – Short-term neutral. DCE iron ore rebounded significantly in the afternoon session, along with major commodities and Shanghai equity all recovered the sentiments and rebounded before and after lunch. However open interest and volume growth were not significant, indicating a testing period for market to return to neutral. A breakthrough on 1008.0 area would …
Continue reading “Iron Ore DCE May Daily Technical Review 4/2/21”