Author archives: Hao Pei

Ferrous Market Updates –    Steelbank Inventory: rebar inventories 7.52 million tonnes, up 2.38% w-o-w. HRC 1.84 million tonnes, up 1.85%. –    China H1 pig iron production 432.68 million tonnes, up 2.2% y-o-y. Crude steel production 499.01 million tonnes, up 1.4% y-o-y. –    China metallurgical research institution said China steel per GDP will decrease in long …

Continue reading “Daily Ferrous Physical Review Jul 27th”

Verdict – Short-term bearish. Iron ore corrected two rounds during Asian hours and both with significant volume. From hourly chart, iron ore is creating lower highs and lower lows, correcting in a descending channel. Hour MACD is widening. Hourly slow stochastic KD has corrected from overbought area from July 22nd to areas above oversold area. …

Continue reading “Iron Ore DCE September Daily Technical Review Jul 24th”

Ferrous Market Updates –    MySteel researched 247 steel mills operation rate at 91.02%, up 0.26^ w-o-w, up 5.08% y-o-y. Blast furnace utilisation rate 93.08%, up 0.12% w-o-w, up 6.72% y-o-y. Daily pig iron production at 2.48 million tonnes, up 3,200 tonnes, up 178,800 tonnes w-o-w. –    Mysteel 45 ports iron ores inventory 113.25 million tonnes, …

Continue reading “Daily Ferrous Physical Review Jul 24th”

Verdict – Short-term consolidation. Iron ore closed slight higher than last closing however created lower highs and lows, indicating exhausting in current trading days. The support observed from hourly chart at 835.0. The resistance is a descending line connecting 861.5, 854.5 and 849.5. However be aware of the divergence of last minute market between rebar(up) …

Continue reading “Iron Ore DCE September Daily Technical Review Jul 23rd”

Ferrous Market Updates –    MySteel Rebar Inventory: Rebar production 3.83 million tonnes, down 0.03% w-o-w. Mills inventory 3.43 million tonnes, up 3.63% w-o-w. Circulation inventory 8.55 million tonnes, up 1.57% w-o-w. –    CISA: mid-July major mills crude steel daily production 2.14 million tonnes, up 0.36% from early July. Pig iron 1.91 million tonnes, down 0.42% …

Continue reading “Daily Ferrous Physical Review Jul 23rd”

Verdict – Short-term consolidation. Iron ore tested high and give back all gains, along with 4% of open interest loss in last twenty minutes. Return to bull market needs a breakthrough on 861.5. From hourly chart, Slow stochastic created a dead cross near overbought area. CCI created dead cross with iron ore price. Slow stochastic …

Continue reading “Iron Ore DCE September Daily Technical Review Jul 22nd”

Ferrous Market Updates –    Ganggu construction steel production 5.79 million tonnes, up 0.41% w-o-w. Mills inventory 5.28 million tonnes up 4.59% w-o-w. Circulation inventory 11.25 million tonnes, up 1.17% w-o-w. –    MySteel Australia and Brazil iron ore delivery at 24.2 million tonnes, up 925,000 tonnes w-o-w. Australia delivery to China 16.46 million tonnes, up 1.998 …

Continue reading “Daily Ferrous Physical Review Jul 22nd”

Verdict – Short-term bearish. Maintain Short-term bearish as last week. However daily low was higher than Friday and iron ore entered a slower correction phase. From hourly chart, iron ore entered a narrowed descending triangle area with lower highs and almost flat lows around 807.0 level. However daily slow stochastic KD is creating dead cross …

Continue reading “Iron Ore DCE September Daily Technical Review Jul 16th”