Author archives: Hao Pei

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 …

Continue reading “Ferrous Daily Physical Review 22/2/21”

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 …

Continue reading “Iron Ore DCE May Daily Technical Review 19/2/21”

Ferrous Market –    MySteel 45 ports iron ore inventories at 127.07 million tonnes, up 1.875 million tonnes w-o-w. Daily evacuation 2.85 million tonnes, down 431,600 tonnes w-o-w. Australia iron ore 59.97 million tonnes, up 1.48 million tonnes w-o-w. Brazil iron ore 44.43 million tonnes, up 845,000 million tonnes w-o-w. 115 ships at ports, down 54. …

Continue reading “Ferrous Daily Physical Review 19/2/21”

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 …

Continue reading “Ferrous Daily Physical Review 18/2/21”

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 …

Continue reading “Ferrous Daily Physical Review 10/2/21”

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”

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”