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Verdict – Short-term bearish. DCE iron ore broke down 746.5, the neckline of previous multiple tops from June 5th. If a further breakdown on 733.0, iron ore potentially entered a bearish market and targeting 685.5. From hourly chart, Iron ore created dead cross during this morning with massive volume. Slow stochastic KD widened after a …
Continue reading “Iron Ore DCE September Daily Technical Review Jun 29th”
Ferrous Market Updates – MySteel 45 ports iron ore inventory at 107.81 million tonnes, up 1.64 million tonnes w-o-w. Daily evacuation 3.20 million tonnes up 93,800 tonnes w-o-w. Australia iron ore on ports at 61.34 million tonnes up 619,000 tonnes w-o-w. Brazil iron ore on ports at 21.73 million tonnes up 402,500 tonnes w-o-w. – …
Ferrous Market Updates – BHP narrowed JMBF discount from 7% in June to 4.5% in July, Yandi discount from 5.5% to 3.5%. MAC fines discount unchanged at 0.5%. The adjustment on discount is due to enhancement on ferrous, silicon and aluminum. – Brazil iron ore shipments to China significantly increase in June. In addition, northern …
Verdict – Short-term neutral to bearish. DCE iron ore correct in the morning session and consolidate arround 753.0 level during the afternoon. The ferrous sector position evaporated from previous week. A breakdown on 746.5 level potentially drive market to mid-run bearish. DCE iron ore sep contract technical signals including MACD, slow stocahstic KD and CCI …
Iron Ore and Steel Market Updates – The low grade fines and discounted fines are becoming higher versus major brands iron ores, indciated steel mills are thinking of controling production cost. – China Jan – May cement production at 769 million tonnes, down 8.2% y-o-y. However may cement production at 249 million tonnes, up 8.6% y-o-y, …
Verdict – Short-term neutral. DCE iron ore consolidate for few days and correct during today. The highs are becoming lower at 798.0,788.0,786.5. The lows are becoming higher 733.5,756.5,764.0. In short-run, iron ore traded in a triangle and narrowing in the consolidating range. From hourly chart, MACD widened below 0 axis after dead cross. Slow stochastic …
Iron Ore and Steel Market Updates Vale informs that, on this date, the Sub-Secretariat for Labour Inspection, in Minas Gerais, issued a Term of Suspension of Interdiction of the Itabira mining complex. The Itabira Complex activities were halted since June 5th, 2020 and the production impact was lower than 1 Mt. The operation will be …
Verdict – Short-term neutral. DCE iron ore consolidate for few days and correct during today. The highs are becoming lower at 798.0,788.0,786.5. The lows are becoming higher 733.5,756.5,764.0. In short-run, iron ore traded in a triangle and narrowing in the consolidating range. From hourly chart, MACD widened below 0 axis after dead cross. Slow stochastic …
Iron Ore and Steel Market Updates – Jun 8 -14th Australia and Brazil iron ore delivery at 25.14 million tonnes, down 4.16 million tonnes w-o-w. Australia delivery at 18.41 million tonnes, down 3.27 million tonnes. Brazil delivery 6.73 million tonnes, down 885,000 tonnes. – MySteel surveyed Australia and Brazil iron ore port overhaul(Jun 15 – …