FIS API Blog
Verdict – Short-term neutral to bearish. DCE iron ore decreased total 10% open interest from Tuesday and Wednesday. From hourly candles, iron ore potentially created a roof area and face mid-run level reversal from peak area. Hourly MACD was narrowing below 0 axis. Hourly candles were continuously decreasing the volatility. Hourly slow stochastic KD created …
Continue reading “Iron Ore DCE May Daily Technical Review Dec 23rd”
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Ferrous Market – Municipality of Brumadinho, Minas Gerais,have suspended for 7 days, or until the facts of the December 18 accident are clarified.A Vale miner Corrego do Feijao landslide in 18th caused 1 death. However Vale claimed the impact is not included in the production target since this miner is closed after the dam collapse …
Verdict – Short-term neutral to bullish. DCE iron ore continued the market squeeze and the intra-day high was only 50 cents from limit up. Both SHFE rebar and SHFE HRC reached limit up. A stand on the upper side of the gap at 1100.0 from hourly chart would indicate iron ore potentially maintain strong. The …
Continue reading “Iron Ore DCE May Daily Technical Review Dec 21st”
Ferrous Market – MySteel 45 ports iron ore inventories at 124.04 million tonnes, up 2.01 million tonnes w-o-w. Daily evacuation 2.97 million tonnes, down 89,900 tonnes w-o-w. Australia iron ore 58.27 million tonnes, up 265,000 tonnes w-o-w. Brazil iron ore 41.26 million tonnes, up 587,500 tonnes w-o-w. 137 ships at ports, up 28. – Mysteel …
Continue reading “Daily Ferrous Physical Review Dec 18/12/20”
Verdict – Short-term neutral to bullish, be aware of reversal on high area. DCE iron ore May refreshed historical high and pick up significantly during the last half hour, indicating massive sellers left. Short squeezing increased pressure on short positions. From hourly chart, MACD increased fast. Hourly slow stochastic KD moved above overbought area. …
Continue reading “Iron Ore DCE May Daily Technical Review Dec 18/12/20”
Ferrous Market – Ganggu Construction Steel Inventory: production 5.27 million tonnes, down 19,300 tonnes w-o-w. Mills inventory 4.41 million tonnes, up 247,600 tonnes w-o-w. Circulation inventory 5.67 million tonnes, down 289,700 tonnes w-o-w.- MySteel import sintered iron ore inventories reached 17.38 million tonnes. Import iron ore turnover in 27 days.- MySteel Rebar Inventory: Rebar production …
Verdict – Short-term neutral to bullish, be aware of reversal on high area. DCE iron ore rebounded with higher lows and highs, approaching historic high again. Hourly MACD was flat. Hourly slow stochastic KD is widening beyond overbought area. CCI created high from Dec 11th. Iron ore spike caused the open interest decreased 34% from …
Continue reading “Iron Ore DCE May Daily Technical Review 17/12/20”
Ferrous Market – CISA held an internet conference with Rio Tinto, suspecting the high premium physical trades on platform. Rio indicated would find more transparent and effective way to help creating new pricing strategies with end-users. – Rio indicated the previous suspension miner which destroyed native sites, was not included into production target. Some media …
Verdict – Short-term neutral. DCE iron ore May consolidate and rebound during the day with unchanged both on open interest and volume. Iron ore during the day tested high and low at 1017.0 and 985.5 respectively. However major time consolidated around 1000.0. From hourly chart KD created gold cross yesterday morning and flattened during …
Continue reading “Iron Ore DCE May Daily Technical Review 16/12/20”