Author archives: Hao Pei

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”

Ferrous Market –    Mysteel surveyed Australia port overhaul potentially impact 1.37 million tonnes of delivery. In addition, Geraldton No.5 port delivery is impacted by sea wave. –    Tangshan Fengrun area execute environment production curb from September 1st to 15th,  majorly restricting blast furnace, steel-making and rolling mills. –    MySteel 45 ports iron ore arrived 24.55 …

Continue reading “Daily Ferrous Physical Review Sep 2nd”

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”