Iron Ore DCE September Daily Technical Review Jul 23rd

Verdict – Short-term consolidation. Iron ore closed slight higher than last closing however created lower highs and lows, indicating exhausting in current trading days. The support observed from hourly chart at 835.0. The resistance is a descending line connecting 861.5, 854.5 and 849.5. However be aware of the divergence of last minute market between rebar(up) …

Daily Ferrous Physical Review Jul 23rd

Ferrous Market Updates –    MySteel Rebar Inventory: Rebar production 3.83 million tonnes, down 0.03% w-o-w. Mills inventory 3.43 million tonnes, up 3.63% w-o-w. Circulation inventory 8.55 million tonnes, up 1.57% w-o-w. –    CISA: mid-July major mills crude steel daily production 2.14 million tonnes, up 0.36% from early July. Pig iron 1.91 million tonnes, down 0.42% …

Iron Ore DCE September Daily Technical Review Jul 22nd

Verdict – Short-term consolidation. Iron ore tested high and give back all gains, along with 4% of open interest loss in last twenty minutes. Return to bull market needs a breakthrough on 861.5. From hourly chart, Slow stochastic created a dead cross near overbought area. CCI created dead cross with iron ore price. Slow stochastic …

Daily Ferrous Physical Review Jul 22nd

Ferrous Market Updates –    Ganggu construction steel production 5.79 million tonnes, up 0.41% w-o-w. Mills inventory 5.28 million tonnes up 4.59% w-o-w. Circulation inventory 11.25 million tonnes, up 1.17% w-o-w. –    MySteel Australia and Brazil iron ore delivery at 24.2 million tonnes, up 925,000 tonnes w-o-w. Australia delivery to China 16.46 million tonnes, up 1.998 …

Iron Ore DCE September Daily Technical Review Jul 16th

Verdict – Short-term bearish. Maintain Short-term bearish as last week. However daily low was higher than Friday and iron ore entered a slower correction phase. From hourly chart, iron ore entered a narrowed descending triangle area with lower highs and almost flat lows around 807.0 level. However daily slow stochastic KD is creating dead cross …

Daily Ferrous Physical Review Jul 20th

Ferrous Market Updates –    Steelbank inventories 7.34 million tonnes, up 1.41% y-o-y. HRC inventories 1.81 million tonnes, down 1.37% y-o-y. –    Tangshan increased production curb level from last week and this week. Most of the curb is related to sintering machine. Thus decreasing usage of iron ores and cokes in Tangshan Area. –    China southern …

Daily Ferrous Physical Review Jul 16th

Ferrous Market Updates –    Mysteel mills inventory 16.13 million tonnes. Inventory turnover in 23 days. –    MySteel Rebar Inventory: Rebar production 3.83 million tonnes, down 1.49% w-o-w. Mills inventory 3.31 million tonnes, down 3.22% w-o-w. Circulation inventory 8.42 million tonnes, up 2.99% w-o-w. – Economic Data –    China Q2 GDP down 3.2% y-o-y, up 11.5% …

Iron Ore DCE September Daily Technical Review Jul 15th

Verdict – Short-term neutral. DCE iron ore tested low over last night and recovered the loss during day session. Daily iron ore closed with a doji. Both high and lows are narrower than yesterday. The strong support is on 823.5 area, price reverse several times during this week. If iron ore breakthrough 845.0, it will …

Daily Ferrous Physical Review Jul 15th

Ferrous Market Updates –    Ganggu Construction Steel Inventory: production 5.77 million tonnes, up 15,700 tonnes w-o-w. Mills inventory 5.05 million tonnes, down 354,300 tonnes w-o-w. Circulation inventory 11.13 million tonnes, up 207,000 tonnes w-o-w. –    MySteel 45 port previous week iron ore arrived 23.45 million tonnes, down 656,000 tonnes w-o-w. Northern six ports arrivals at …