Author archives: Hao Pei

Verdict – Short-term neutral. DCE iron ore rebounded during the day. However iron ore created lower highs and lows over this week, indicating the consolidation area is narrowing. A rejection on 851.5 would stuck iron ore in consolidation area. The test low area is from 807.5- 820.0, where iron ore saw strong support. From hourly …

Continue reading “Iron Ore DCE January Daily Technical Review Aug 14th”

Ferrous Market –    Arcelor Mittal planned to build a 1.5 mtpa EAF furnace in AM/NS Calvert, a U.S. steel mill. –    China eastern cement price up 30 yuan to 370 yuan, reached the high before rainy season in July. Cement in eastern areas up 50 yuan in total in August. –    Mysteel 45 major ports …

Continue reading “Daily Ferrous Physical Review Aug 14th”

Verdict – Short-term neutral. DCE iron ore tested low and recovered most of losses. Daily slow stochastic KD created dead cross in overbought area. CCI created bearish divergence with iron ore price since August 6th. This bearish divergence normally indicate price has correction risk. The return to bull needs a breakthrough on 851.5. A breakdown …

Continue reading “Iron Ore DCE January Daily Technical Review Aug 13th”

Ferrous Market –    Ukraine export 27.03 million tonnes of iron ore from this January to July, up 16% y-o-y. –    China National Statistic Bureau: major steel enterprises crude steel daily production 2.15 million tonnes, down 0.87% from late July, up 5.14% y-o-y. Daily pig iron 1.92 million tonnes, down 0.6% from end July, up 5.39% …

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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 …

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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 …

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