Ferrous Market – Ganggu Construction Steel Inventory: production 1.92 million tonnes, up 2.73% w-o-w. Mills inventory 2.96 million tonnes, down 8.40% w-o-w. Circulation inventory 5.38 million tonnes, down 5.52% w-o-w. – MySteel 45 port previous week iron ore arrived 24.99 million tonnes, down 1.58 million tonnes w-o-w. Northern six ports arrivals at 13.78 million tonnes, …
Author archives: Hao Pei
FIS Weekly Ferrous Report 25082020
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Iron Ore DCE January Daily Technical Review Aug 24th
Verdict – Short-term bearish. DCE iron ore correct for the fourth consecutive day, with lower lows and highs in a descending tunnel. Daily slow stochastic KD is correcting, weekly slow stochastic KD dead cross. CCI daily is moving in sharper descending trend compared with iron ore price. MACD created dead cross during the day. Technical …
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Daily Ferrous Physical Review Aug 24th
Ferrous Market – Shanghai 16-25mm rebar consolidate from 3670- 3690 yuan for previous 6 weeks. However Rizhao PBF increased 18.63% during the same period. Thus many northern mills rebar profit has been squeezed to negative area. Mills started to think about decrease sintering ores and increase proportion of lumps, which currently running at historical low …
Iron Ore DCE January Daily Technical Review Aug 21st
Verdict – Short-term bearish. DCE iron ore extend the correction for the third trading day of the week. DCE iron ore Jan contract challenged 860 area for six times and all ended with failure. From hourly chart, iron ore broke neckline around 841.0 and start to deeper correction targeting 807.5. MACD widened below 0 axis. …
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Daily Ferrous Physical Review Aug 21st
Ferrous Market – MySteel 45 ports iron ore inventory at 112.42 million tonnes, down 813,300 tonnes w-o-w. Daily evacuation 3.27 million tonnes down 12,600 tonnes w-o-w. Australia iron ore on ports at 57.86 million tonnes down 967,800 tonnes w-o-w. Brazil iron ore on ports at 28.45 million tonnes up 693,000 tonnes w-o-w. 185 ships at …
Iron Ore DCE January Daily Technical Review Aug 20th
Verdict – Short-term bearish. DCE iron ore extend the correction from yesterday. Daily slow stochastic KD widened after the dead cross created yesterday. Daily MACD and CCI both created bearish divergence with iron ore price over a week. 851.5 changed from support to resistance level. Hourly chart CCI created new low since July 24th. Hourly …
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Daily Ferrous Physical Review Aug 20th
Ferrous Market – Ganggu: Construction steel production 5.73 million tonnes, up 0.17% w-o-w. Mills inventory 5.23 million tonnes, up 0.87% w-o-w. Circulation 11.33 million tonnes, up 0.47% w-o-w. – MySteel Rebar Inventory: Rebar production 3.85 million tonnes, down 0.4% w-o-w. Mills inventory 3.67 million tonnes, up 1.16% w-o-w. Circulation inventory 8.67 million tonnes, up 0.96% …
Iron Ore DCE January Daily Technical Review Aug 19th
Verdict – Short-term neutral. DCE iron ore slightly corrected during the day. From hourly chart, CCI created bearish divergence with candles during last night. Slow stochastic KD created dead cross on overbought area at the same time. MACD potential create dead cross in next few hours. If a breakdown on 850.0, the next target is …
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Daily Ferrous Physical Review Aug 19th
Ferrous Market – Iron ore 45 port arrivals at 26.57 million tonnes, up 983,000 tonnes w-o-w. Northern six port arrivals at 13.30 million tonnes, up 1.96 million tonnes w-o-w. – MySteel Australia and Brazil iron ore total delivery at 25.64 million tonnes, up 1.587 million tonnes. Australia iron ore delivery 17.97 million tonnes, up 1.53 …