Author archives: Hao Pei

Verdict – Short-term bearish. DCE iron ore correct during the day, the current three days created lower highs. Each trading day ended with long upper shadows, indicating the marginal power is diminishing for new buyers. Hourly MACD created lower dead cross. Hourly slow stochastic KD is also creating lower dead cross. Technical signals are indicating …

Continue reading “Iron Ore DCE January Daily Technical Review Sep 9th”

Ferrous Market –    Australia Walcott Pier #1&2, 5&6 maintenance total impact 990,000 tonnes of iron ore delivery this week. Geraldton Pier 5 potential decrease delivery because of sea wave. Brazil Tubarao, PDM total delivery impact arround 910,000 tonnes. –    MySteel 45 port iron ore arrivals at 23.99 million tonnes down 558,000 tonnes w-o-w. Northern 6 …

Continue reading “Daily Ferrous Physical Review Sep 9th”

Verdict – Short-term neutral. DCE iron ore Jan contract tested 874.0 area for the third time during current three weeks and rejected to close with a long upper shadow, indicating the short-run push ended. From short-run, a breakdown on 808.0 area would indicate entering mid-run correction and create a roof area. However a return to …

Continue reading “Iron Ore DCE January Daily Technical Review Sep 7th”

Ferrous Market –    Asian traders believed iron ore exports from both Brazil and Australia will boost in Q4 according to seasonal pattern, in particular after Australia finished port overhaul in September. –    Both southern and northern ports showed interest to buy Yandi fines because of better cost and effective sinterability. –    Lump furnace input ratio …

Continue reading “Daily Ferrous Physical Review Sep 7th”

Verdict – Short-term neutral. DCE iron ore Jan tanked low at the end of night session and recovered slightly during the day. The last three hour candles ended with doji, indicating previous correction exhausted and market return to neutral in short-run again. Open interest keep at similar level, most of trades are changing hands. However …

Continue reading “Iron Ore DCE January Daily Technical Review Sep 4th”

Ferrous Market –    Mysteel 45 ports iron ores inventory 113.74 million tonnes, up 635,100 tonnes w-o-w. Daily evacuation 3.256 million tonnes, up 148,900 tonnes w-o-w. Austrilian iron ores inventory 56.66 million tonnes, down 691,600 tonnes w-o-w. Brazil iron ores inventory 30.03 million tonnes, up 227,000 tonnes w-o-w. 169 ships at ports down 19 w-o-w. –    …

Continue reading “Daily Ferrous Physical Review Sep 4th”

Verdict – Short-term neutral. DCE iron ore Jan closed with a doji, indicating a severe exhaustion after a round of push. The open interest and volume both up indicating confliction between long and short positions. DCE iron ore September is pegged with physical and stable arround 935- 940.0 area, which potentially restrict Jan on roof …

Continue reading “Iron Ore DCE January Daily Technical Review Sep 3rd”

Ferrous Market –    Vale started a level-1(lowest level) emergency protocol for Paracatu and Patrimonio dikes. The preventive measure doesn’t require the evacuation of the population and non impact Vale’s 2020 output. –    Mysteel 64 sample steel mills seaborne sintered iron ore inventory 16.53 million tonnes. Seaborne iron ore turnover in 24 days. –    Ganggu Construction …

Continue reading “Daily Ferrous Physical Review Sep 3rd”

Verdict – Short-term neutral. DCE iron ore pushed with increasing new open long positions. However daily high is rejected by yesterday high at 859.5. The 840.5 was a strong support area observed during this week. Short run iron ore needs to breakthrough the consolidation box from 808.0- 859.5, otherwise potentially consolidating currently. The return to …

Continue reading “Iron Ore DCE January Daily Technical Review Sep 2nd”