Author archives: Hao Pei

Verdict – Short-term neutral. DCE iron ore September decreased positions massively since this is the last trading day for individual clients before entering delivery month at sep contract. The fall of September contract indicated there is no delivery profits for September buyers after market pushed high earlier today. At the same time, jan contract is …

Continue reading “Iron Ore DCE January Daily Technical Review Aug 31st”

Ferrous Market –    China August Manufacture PMI 51.0, est. 51.2, last 51.1. –    Tangshan execute environment production restriction on August 31st, the third environment curb over past two weeks. Physical steels push up significantly after hearing the curb. Northern ports operation are impacted by typhoon weather over weekends and expected to recover on Tuesday after …

Continue reading “Daily Ferrous Physical Review Aug 31st”

Verdict – Short-term neutral. DCE iron ore followed the rebound of shanghai equity, which has corrected over the entire week. Be aware of short-run money game since the volume boost up in some typical time spots of scalpers, for example, Asian opening, before T-break and after Afternoon starts. Iron ore September contract push up more, …

Continue reading “Iron Ore DCE January Daily Technical Review Aug 28th”

Ferrous Market –    MySteel 45 ports iron ore inventory at 113.1 million tonnes, up 687,600 tonnes w-o-w. Daily evacuation 3.11 million tonnes down 167,000 tonnes w-o-w. Australia iron ore on ports at 57.35 million tonnes down 504,700 tonnes w-o-w. Brazil iron ore on ports at 29.80 million tonnes up 1.35 million tonnes w-o-w. 188 ships …

Continue reading “Daily Ferrous Physical Review Aug 28th”

Verdict – Short-term bearish. DCE iron ore daily chart created five waves according to Elliot theory. Currently entering the first correction phase. Any rebound is opportunity for short position. However a rebound above 851.5 could be a level to reverse. From hourly chart, 807.5- 811.0 is an area support iron ore market for many times …

Continue reading “Iron Ore DCE January Daily Technical Review Aug 27th”

Ferrous Market –    MySteel researched 64 steel mills import iron ore concentrates at 16.71 million tonnes. Iron ore turnover in 25 days. –    Iron ore traded actively in Corex yesterday, most are port trades. Current market is reluctant to accept higher iron ore price, trade volume become light each time after iron ore rebound since …

Continue reading “Daily Ferrous Physical Review Aug 27th”

Verdict – Short-term neutral. DCE iron ore rebound after a streak of losses over previous five trading days. Iron ore Jan created higher lows compared to last trading day. Current effective support at 808.0, which was tested in early August as well for many times. Hourly MACD created gold cross, however in the late market. …

Continue reading “Iron Ore DCE January Daily Technical Review Aug 26th”

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, …

Continue reading “Daily Ferrous Physical Review Aug 26th”

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 …

Continue reading “Iron Ore DCE January Daily Technical Review Aug 24th”