Ferrous Market – China steel mills are planning to invest in south-east countries, equal to 54 million tonnes of steel capacity. – Ganggu Construction Steel Inventory: production 5.26 million tonnes, down 55,400 tonnes w-o-w. Mills inventory 3.55 million tonnes, down 274,600 tonnes w-o-w. Circulation inventory 7.93 million tonnes, up 731,300 tonnes w-o-w. – Many steel …
Author archives: Hao Pei
FIS Weekly Ferrous Report 10/11/20
Iron ore – The arrival of iron ore is coming off during last week by 7% w-o-w at 23.82 million tonnes, from mysteel statistics. However this gap is expected to fill up in this week about similar amount. Port stock tendency is still increase since low evacuation plus congestion ships entered port areas. – The …
Iron Ore DCE January Daily Technical Review Nov 9th
Verdict – Short-term neutral. DCE iron ore gave back some gains after the spike on last hour of Friday night and first 10 minutes of the day session. At the same time, volume return to normal level as well. The market entered a neutral to bullish range however a confirm of breakthrough on 827.0-834.0 would …
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Daily Ferrous Physical Review Nov 9th
Ferrous Market – Steelbank: China contruction steel inventory 6.73 million tonnes, down 11.18% w-o-w. HRC 2.38 million tonnes, down 6.8% w-o-w. – MySteel researched Tangshan 10 sample steel mills profit 332 yuan/tonnes, up 67 yuan w-o-w. Billet cost after tax down 7 yuan w-o-w. – China Jan-Oct iron ore import at 975 million tonnes, up …
Iron Ore DCE January Daily Technical Review Nov 6th
Verdict – Short-term neutral. DCE iron ore consolidate in narrow range for the third trading day during the week. Trading volume down 32% from yesterday. Short-run correction needs to breakdown 772.5. At the same time, a rebound needs a breakthrough with volume on 805.5 level. Hourly slow stochastic is potential to create dead cross below …
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Daily Ferrous Physical Review Nov 6th
Ferrous Market – MySteel 45 ports iron ore inventories at 128.12 million tonnes, up 482,500 tonnes w-o-w. Daily evacuation 3.1986 million tonnes, up 68,000 tonnes w-o-w. Australia iron ore 60.72 million tonnes, up 418,000 tonnes w-o-w. Brazil iron ore 39.56 million tonnes, up 174,000 tonnes w-o-w. 133 ships at ports, down 16. – Mysteel researched …
Iron Ore DCE January Daily Technical Review Nov 5th
Verdict – Short-term neutral to bearish. Iron ore morning session saw a big increase on new short which drive down price. In the afternoon the recover was also due to a short covering. As a result, iron ore short positions have more initiatives compared with long positions. A breakdown on next resistance 772.5 would smash …
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Daily Ferrous Physical Review Nov 5th
Ferrous Market – Tangshan area 10 mills gross profit up 47 yuan to 302 yuan/tonne from last week. – Some Tangshan trade sources indicate HRC rolling mills stop operation from 4th – 6th. Some structural steel mills stopped operation again after previous curb end in Nov 1st, restart date to be announced. – Vale resorted …
Iron Ore DCE January Daily Technical Review Nov 4th
Verdict – Short-term neutral to bearish. DCE iron ore tested 805.5 five times from hourly chart since Oct 16th. However the supports are becoming higher. The current range area is 783.5 – 805.5, a rejection on both bounds would maintain iron ore in consolidation. Open interest evaporated significantly by 40,000 lots, the biggest single down …
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Daily Ferrous Physical Review Nov 4th
Ferrous Market – Ganggu Construction Steel Inventory: production 5.32 million tonnes, up 17,800 tonnes w-o-w. Mills inventory 3.82 million tonnes, down 301,500 tonnes w-o-w. Circulation inventory 8.66 million tonnes, down 704,400 tonnes w-o-w. – Eurofer estimated steel apparent consumption down 14.6% in the year 2o2o, previous expected down 16.6%. Expected apparent consumption up 13% in …