FIS API Blog
Verdict – Short-term neutral to bearish. DCE iron ore corrected during the day. Iron ore consolidated for most of January. The breakdown on 1005.5 would potentially trigger a big level correction. Hourly CCI created double tops and potentially reach the weak area below -100. Houly MACD was flattening. The short-term signals were indicating an …
Continue reading “Iron Ore DCE May Daily Technical Review 1/2/21”
Ferrous Market – Australia Pilbara Ports Authority sent a cyclone notice late last week, the cyclone passed by the Hedland port area, which was cleared during weekends. However the cyclone has left the coastal area on Monday, detail impact on delivery to be announced. – FMG SSF discount expanded to 11% from 10% in January. …
Verdict – Short-term neutral to bearish. DCE iron ore closed similar with last closing, however market volume and interest decreased. Hourly MACD was narrowing below 0 axis. Hourly slow stochastic KD created gold cross above oversold area. Short-run technical signals were indicating the previous correction was slowing. The first support is 959.0. The …
Continue reading “Iron Ore DCE May Daily Technical Review 29/1/21”
Ferrous Market – MySteel 45 ports iron ore inventories at 125.01 million tonnes, up 625,100 tonnes w-o-w. Daily evacuation 3.04 million tonnes, down 146,900 tonnes w-o-w. Australia iron ore 58.26 million tonnes, up 705,000 tonnes w-o-w. Brazil iron ore 43.71 million tonnes, up 109,200 tonnes w-o-w. 201 ships at ports, up 23. – MySteel 14 …
Ferrous Market – DCE added BX Steel pelletizing fine, IOC6, Kumba and Ukraine pelletizing fine into deliverable brands. The increase on deliverable iron ores would decrease the market corner chances during and before delivery month. – Ganggu Construction Steel Inventory: production 4.999 million tonnes, down 27,600 tonnes w-o-w. Mills inventory 5.91 million tonnes, up 345,600 …
Verdict – Short-term bearish. DCE iron ore corrected and breakdown two support above 1000. A breakdown further on 959.0 level would indicate a mid-run bearish created. The major correction was motivated by new short building positions. Hourly KD created dead cross early in this morning. CCI hourly created the lowest after Dec 29th, 2020. …
Continue reading “Iron Ore DCE May Daily Technical Review 28/1/21”
Ferrous Market – China Iron ore 45 port arrivals at 24.37 million tonnes, down 2.998 million tonnes w-o-w. Northern six port arrivals at 11.35 million tonnes, down 4.25 million tonnes w-o-w. – MySteel Australia and Brazil iron ore total delivery at 19.77 million tonnes, down 1.57 million tonnes w-o-w. Australia iron ore delivery 14.02 million …
Verdict – Short-term neutral to bearish. DCE iron ore rebounded, however intra-day low broke the low in Jan 12th. The daily settlement price also created the lowest since Jan 12th. A breakdown on 1015.5 would potentially cause a breakdown on weak support at 1005.5, thus triggering a mid-run deep correction. A stand on this …
Continue reading “Iron Ore DCE May Daily Technical Review 27/1/21”
Market Summary： Steel: – The speculators used to long U.S. linked commodities and short CNY linked commodities come to an end as currency become less sensitive to stimulus plan. Construction steel trading volume dropped by 50% from late December 200,000 tonnes to 100,000 tonnes by end of January. Steel bank construction steel inventories up 17.31% …
Ferrous Market – Steelbank construction steels inventory 2.8896 million tonnes, up 17.31% w-o-w. HRC inventories 1.8673 million tonnes, up 0.28% w-o-w. – Hebei steel mills indicated the pandemic spread in Hebei recently caused the road transportation cost up 15% -50%. – Bureau of Meterology in Australia indicated the Hurricane previously decreaed to a normal wind …