FIS API Blog
Verdict – Short-term neutral. DCE iron ore may contract consolidated during the trading day. Be aware of new short positions building in next trading day, since the intraday settlement was high yesterday, which limit the theoretical downside room for iron ore today. CCI created a bullish divergence with candles for the previous six trading hours. …
Continue reading “Iron Ore DCE May Daily Technical Review 10/3/21”
Ferrous Market – Ganggu Construction Steel Inventory: production 5.18 million tonnes, up 106,900 tonnes w-o-w. Mills inventory 10.37 million tonnes, up 165,500 tonnes w-o-w. Circulation inventory 17.55 million tonnes, up 601,000 tonnes w-o-w. – Baosteel increase HRC price in April by 300 yuan/tonne from March. – MySteel Australia and Brazil iron ore total delivery at …
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Verdict – Short-term neutral. DCE iron ore may contract tested high during the last minute of Friday night session and correct during Asian morning. Iron ore saw strong resistance between 1168- 1185 area. Hourly MACD flattened below 0 axis. Hourly CCI started to correct slowly. Major range bound in between 1112.5- 1180.0 most of time …
Continue reading “Iron Ore DCE May Daily Technical Review 8/3/21”
Ferrous Market – Steelbank construction steels inventory 10.25 million tonnes, up 4.51% w-o-w. HRC inventories 3.27 million tonnes, up 3.38% w-o-w. – MySteel: January and February China export 10.14 million tonnes of steels, up 29.9% y-o-y. China import 2.395 million tonnes of steel, up 17.4% y-o-y. – China custom statistic indicated January and February iron …
Verdict – Short-term neutral. China Wuxi Cobalt created big volatility from last Thursday and Friday. However as whole metals sector tends to narrow the range, Cobalt potentially flattened during the this week. CCI rebounded from the yearly-low. Slow stochastic KD potentially create a gold cross above oversold area. Technical signals were indicating an exhaustion on …
Continue reading “China Wuxi Cobalt Index Weekly Technical Review 8/3/2021”
Verdict – Short-term neutral. DCE iron ore may contract corrected massively during last night session after refreshed new high yesterday. Day session iron ore recovered some losses. Hourly slow stochastic KD deepened correction after a dead cross created below overbought area. Hourly CCI rebounded from the lowest since February. Short-run technical signals were indicating a …
Continue reading “Iron Ore DCE May Daily Technical Review 5/3/21”
Ferrous Market – MySteel 45 ports iron ore inventories at 127.89 million tonnes, up 1.44 million tonnes w-o-w. Daily evacuation 2.72 million tonnes, up 234,500 tonnes w-o-w. Australia iron ore 61.52 million tonnes, up 1.33 million tonnes w-o-w. Brazil iron ore 43.69 million tonnes, down 311,000 tonnes w-o-w. 126 ships at ports, up 4. – …
Verdict – Short-term neutral to bullish. DCE iron ore refreshed historical new highs during the current two trading days. Open interest indicated new long positions were built to drive market up. Hourly MACD expanded. Hourly CCI was approaching new high in March. Be aware of the resistance on historical high area in 1180.0- 1185.0 area, …
Continue reading “Iron Ore DCE May Daily Technical Review 4/3/21”
Ferrous Market – MySteel Rebar Inventory: Rebar production 3.38 million tonnes, up 5.9% w-o-w.Mills inventory 5.22 million tonnes, up 1.36% w-o-w. Circulation inventory 13.04 million tonnes, up 6.73% w-o-w. – Tangshan stopped road transportation to port areas from March 3rd – 6th since a new round of air pollution expected to hit Tangshan Area. – …