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 …
Author archives: Hao Pei
Iron Ore DCE September Daily Technical Review Jun 17th(Hourly Chart from Apr 20th to Jun 17th)
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 …
FIS Daily Physical Review Jun 17th
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 – …
FIS Ferrous Weekly Report 16/06/2020
Iron Ore DCE September Daily Technical Review Jun 15th(Hourly Chart from May 18th to Jun 15th)
Verdict – Short-term neutral to bearish. DCE iron ore corrected after Friday push to five day high. The test low was supported by 756.5. 753.0 area from hourly chart supported price reversal twice over last week. A breakdown on 746.5- 753.0 area will drive iron ore price to test 20 day moving average. The breakdown …
FIS Daily Physical Review Jun 15th
Iron Ore and Steel Market Updates – Steelbank: construction steel inventories 6.95 million tonnes, down 1.87% w-o-w. HRC inventories 1.99 million tonnes, down 4.71% w-o-w. – China Statistic Bureau: crude steel output in May rose 4.2% y-o-y. Jan-May steel output rose 1.9% y-o-y. Pig iron output in May rose 2.4% y-o-y. Jan-May pig iron rose …
Iron Ore DCE September Daily Technical Review Jun 12th(Hourly Chart from Apr 22nd to Jun 12th)
Verdict – Short-term neutral. DCE iron ore rebounded with increasing volume and interest. However be aware of major trades are tend to be short-run. Iron ore tested low and strongly supported by 10 day moving average. The return to bull requires a breakthrough on 798.0, previous high. From hourly chart, MACD created gold cross. CCI …
FIS Daily Physical Review Jun 12th
Iron Ore and Steel Market Updates – China 45 ports iron ore inventories at 106.97 million tonnes, down 560,000 tonnes w-o-w. Australia iron ore port inventories 61.29 million tonnes, up 780,000 tonnes w-o-w. Brazil iron ore 20.71 million tonnes, down 1.07 million tonnes w-o-w. – Mysteel researched 247 blast furnace operation rate at 91.67%, up 0.65% …
FIS Daily Physical Review Jun 11th
Iron Ore and Steel Market Updates MySteel sintered iron ore inventory at 16.62 million tonnes. Sintered iron ore daily consumption 625,100 tonnes. Inventory turnover in 23 days. China weather forecast indicated heavy rain and flood warning in western, mid-China and southern provinces. Guangzhou inventories decrease slower w-o-w, since several floods happen in late May and …
Iron Ore DCE September Daily Technical Review Jun 10th(Hourly Chart from May 18th to Jun 10th)
Verdict – Short-term neutral to bearish. DCE iron ore broke the previous gap and thus lose an important support around 760.0 level. However daily low tested low at moving average 10 and bounced back. The mid-run correction has yet come. From hourly chart, if iron ore broke 733.5 then top reversal in mid-run created. Hourly …