Author archives: Hao Pei

Ferrous Daily Physical Review 18/1/21

Ferrous Market –    China National Bureau of Statistics: China 2020 crude steel production 1.05 billion tonnes, up 5.2% y-o-y. Pig iron production 887.52 million tonnes, up 4.3% y-o-y. Steel production 1.32 billion tonnes, up 7.7% y-o-y. –    A fire that broke out early Thursday at one of Vale’s ship loaders in northern Brazil was contained …

Continue reading “Ferrous Daily Physical Review 18/1/21”

Iron Ore DCE May Daily Technical Review 18/1/21

Verdict – Short-term neutral. DCE iron ore created new high since 22/12/2020. Currently iron ore created three dojis during last three hours from hourly chart, indicating the rebound was exhausted at the moment. However in mid-run iron ore created 1069.5- 1079 – 1084.5, higher highs over the new year. Thus mid-run was in neutral to …

Continue reading “Iron Ore DCE May Daily Technical Review 18/1/21”

China Wuxi Cobalt Index Weekly Technical Review 18/1/21

Verdict – Short-term Bearish. China Wuxi Cobalt corrected significantly during the early Asian morning session with increasing volume. The slow stochastic KD created dead cross on overbought area in Jan 15th. CCI created double top in Jan 15th. Daily MACD was narrowing and potentially create dead cross in next few trading hours. Daily candles created …

Continue reading “China Wuxi Cobalt Index Weekly Technical Review 18/1/21”

Ferrous Daily Physical Review 15/1/21

Ferrous Market –    MySteel 45 ports iron ore inventories at 124.12 million tonnes, up 1.45 million tonnes w-o-w. Daily evacuation 2.97 million tonnes, down 57,600 tonnes w-o-w. Australia iron ore 58.69 million tonnes, up 95,000 tonnes w-o-w. Brazil iron ore 41.94 million tonnes, up 1.50 million tonnes w-o-w. 172 ships at ports, up 13. –    …

Continue reading “Ferrous Daily Physical Review 15/1/21”

Iron Ore DCE May Daily Technical Review 15/1/21

Verdict – Short-term neutral. DCE iron ore spiked and corrected back in the afternoon session. Today is the last trading day of Jan contract, which will enter physical delivery window next week. Rebar may contract becomes higher than physical price. Slow stochastic KD created dead cross near overbought area. Hourly MACD was flattening in bearish …

Continue reading “Iron Ore DCE May Daily Technical Review 15/1/21”

Daily Ferrous Physical Review 14/1/21

Ferrous Market –    MySteel Rebar Inventory: Rebar production 3.45 million tonnes, down 1.18% w-o-w. Mills inventory 2.76 million tonnes, up 6.27% w-o-w. Circulation inventory 4.25 milliontonnes, up 7.51% w-o-w. –    Fe Limited planed to ship JWD iron ore from the Q2 2021. The miner expected to start operation in Q1 2021. –    Brazil high silicon …

Continue reading “Daily Ferrous Physical Review 14/1/21”

Iron Ore DCE May Daily Technical Review 14/1/21

Verdict – Short-term neutral.   DCE iron ore rebounded and resisted by major resistance at 1060. Be aware of cross day short-run trades, which happen few times from late December. A breakthrough on 1079.0 would bring iron ore back to bullish territory. Hourly MACD created gold cross and widened. Slow stochastic KD also created gold …

Continue reading “Iron Ore DCE May Daily Technical Review 14/1/21”

Daily Ferrous Physical Review 13/1/21

Ferrous Market –    Ganggu Construction Steel Inventory: production 5.12 million tonnes, down 142,700 tonnes w-o-w. Mills inventory 5.27 million tonnes, up 335,300 tonnes w-o-w. Circulation inventory 6.21 million tonnes, up 272,500 tonnes w-o-w. –    Samarco shipped 75,000 tonnes of pellets from Brazil to Europe, first laycan after restart the operation. Samarco recovered 26% utilisation rate, …

Continue reading “Daily Ferrous Physical Review 13/1/21”

Iron Ore DCE May Daily Technical Review 13/1/21

Verdict – Short-term neutral to bearish.   DCE iron ore corrected, however majorly consolidate between 1022.0- 1060.0 area. The trading volume down significantly. From hourly chart, MACD was flattened below 0 axis. Hourly slow stochastic KD created dead cross below overbought area. CCI created a double tops from hourly chart, indicating a correction potential.   …

Continue reading “Iron Ore DCE May Daily Technical Review 13/1/21”