FIS API Blog
Verdict – Short-term neutral. DCE iron ore pushed high along with equities after a test low around 807.5, which was a strong level previously. From hourly chart, iron ore on the “right shoulder” was higher than the “left shoulder”. The next breakthrough on 851.5 will bring iron ore back to bullish market. Hourly MACD is …
Continue reading “Iron Ore DCE January Daily Technical Review Aug 12th”
Ferrous Market – MySteel Australia and Brazil iron ore total delivery at 24.05 million tonnes, up 322,000 tonnes. Australia iron ore delivery 16.44 million tonnes, down 246,000 tonnes w-o-w. Australia delivery to China 14.29 million tonnes, up 734,000 tonnes w-o-w. Brazil iron ore delivery 7.6 million tonnes, up 568,000 tonnes w-o-w. Global iron ore delivery …
Verdict – Short-term neutral. DCE iron ore major changed from September to January over current two trading days. January contract slight up however September contract slight down, indicating current long are betting on far contract value and expect current month value is too high. If iron ore January contract break 828.5, a five-year high, iron …
Continue reading “Iron Ore DCE January Daily Technical Review Aug 10th”
Ferrous Market – Steelbank Inventory: rebar inventories 7.499 million tonnes, down 1.34% w-o-w. HRC 1.88 million tonnes, down 0.11% w-o-w. – Metinvest BW Q2 iron ore concentrates produced 7.57 million tonnes, down 1% from Q1. H1 iron ore concentrates produced 15.17 million tonnes, up 5% y-o-y. Macro – China railroads totaled investments 67.1 billion yuan …
Verdict – Short-term neutral to bearish. DCE iron ore September is expected to roll to January contract as major contract next Monday. The U.S. China tension once again linked commodities sector and equity very closely. Iron ore in general in a sentiment to test low. DCE iron ore evaporated 35,000 lots of positions which were …
Continue reading “Iron Ore DCE September Daily Technical Review Aug 7th”
Ferrous Market – Mysteel 45 major ports iron ores inventory 113.46 million tonnes, down 569,600 tonnes w-o-w. Daily evacuation 3.16 million tonnes, up 50,000 tonnes w-o-w. Austrilian iron ores inventory 61.24 million tonnes, down 1.3979 million tonnes w-o-w. Brazil iron ores inventory 26.53 million tonnes, up 810,900 tonnes w-o-w. 168 ships at ports up 9 …
Verdict – Short-term consolidate at high level. DCE iron ore September is expected to roll to January contract as major contract from tomorrow or early next week. According to historical rule, rolling normally come along with smaller open interest. That is to say, the previous long interest built to push iron ore market up potentially …
Continue reading “Iron Ore DCE September Daily Technical Review Aug 6th”
Ferrous Market – Lianyun Port ships congested because some crew are tested positive of Covid-19. The rest of northern ports are operating normally. Ships at northern are also impacted shortly by the previous typhoon. – MySteel Rebar Inventory: Rebar production 3.84 million tonnes, down 0.74% w-o-w. Mills inventory 3.49 million tonnes, down 0.33% w-o-w. Circulation …
Verdict – Short-term consolidate at high level. DCE iron ore September contract closed slight lower than yesterday. A further breakthrough on 897.0 would drive price to a fast growing tunnel. However a breakdown on 874.0 would lead iron ore to short-run correction. From hourly chart, slow stochastic KD created dead cross last night and deepened …
Continue reading “Iron Ore DCE September Daily Technical Review Aug 3rd”