Iron Ore and Steel Market Updates – Iron ore port fixed-price trades are light during past two days. – Australia Pilbara port may export 47.78 million tonnes, up 3.4% y-o-y, export to China 43.18 million tonnes, up 14.14%. – Ganggu Construction Steel Inventory: production 2.11 million tonnes, up 2.45% w-o-w. Mills inventory 2 million tonnes, …
Author archives: Hao Pei
FIS Ferrous Weekly Report 09/06/2020
Iron Ore DCE September Daily Technical Review Jun 8th(Hourly Chart from May 18th to Jun 8th)
Verdict – Short-term consolidation. DCE iron ore jumped up at 798.0 yuan only 3 yuan from limit up however correct back significantly by last hour and closed at 783.0 yuan. From hourly chart slow stochastic narrowed and potentially create dead cross near overbought area. Hourly level CCI correct from high area. Technical signals are indicating …
FIS Daily Physical Review Jun 8th
Iron Ore and Steel Market Updates – Steelbank inventories: construction steel inventories 7.08 million tonnes, down 5.51% w-o-w. HRC inventories 2.08 million tonnes, down 5.88% w-o-w. – China customs: China iron ore import 87.03 million tonnes in may, up 3.9% y-o-y. China steel export 4.4 million tonnes in may, down 23.4% y-o-y. – Vale informed …
A Short Summary on Vale Disruption on Itabira Complex
Iron ore futures in both SGX and DCE jumped after top iron ore miner Vale SA was ordered to shut operations at Itabira complex including three major mines that accounts for 10% of annual production, boosting concerns that Brazil will disrupt other mines in coming months. However Vale also claimed the potential impact of 2.7 …
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Iron Ore DCE September Daily Technical Review Jun 5th(Hourly Chart from May 18th to Jun 5th)
Verdict – Short-term consolidation. DCE iron ore rebounded from DCE night session, however consolidated within narrow range from 743.0- 746.0 area in Asian hours. From hourly chart, multiple tops pattern has created and the low of candles broke down neckline on 738.0 area. Thus, iron ore is still in a correction tunnel, unless a breakthrough …
FIS Daily Physical Review Jun 5th
Iron Ore and Steel Market Updates – MySteel 45 ports iron ore inventory at 107.54 million tonnes, down 311, 500 tonnes w-o-w. Daily evacuation 3.14 million tonnes up 121,400 tonnes w-o-w. Australia iron ore on ports at 60.51 million tonnes down 499,800 tonnes w-o-w. Brazil iron ore on ports at 21.79 million tonnes down 147,700 …
Iron Ore DCE September Daily Technical Review Jun 4th(Hourly Chart from May 19th to Jun 4th)
Verdict – Short-term bearish. DCE iron ore rejected by roof area at 770.0(last high at 775.0) and then created a slump before noon and before afternoon DCE closing, both timing with huge volume of long covering. The low breakdown the neckline from hourly range and created a multiple top. A reversal has created and mid-run …
FIS Daily Physical Review Jun 4th
Iron Ore and Steel Market Updates – NDMC produced 2.29 million tonnes of iron ore, down 24.7% y-o-y. NDMC sold 2.55 million tonnes of iron ore down 24.3% y-o-y. – Vietnam steel mill HòaPhát sign an agreement to sell 120,000 tonnes to steel billet to CIEC Group in Hangzhou, China, with a contract value around …
Iron Ore DCE September Daily Technical Review Jun 3rd(Hourly Chart from Apr 16th to Jun 3rd)
Verdict – Short-term consolidation. DCE iron ore closed at 755.0 yuan slight lower than previous 757.0 yuan. The trading volume narrowed with a slight increase on open interest. From hourly chart, slow stochastic created second lower dead cross above overbought area, however flattened. Daily candles created a doji, and iron ore entered a symmetrical triangle …