Iron Ore and Steel Market Updates MySteel sintered iron ore inventory at 16.62 million tonnes. Sintered iron ore daily consumption 625,100 tonnes. Inventory turnover in 23 days. China weather forecast indicated heavy rain and flood warning in western, mid-China and southern provinces. Guangzhou inventories decrease slower w-o-w, since several floods happen in late May and …
Author archives: Hao Pei
Iron Ore DCE September Daily Technical Review Jun 10th(Hourly Chart from May 18th to Jun 10th)
Verdict – Short-term neutral to bearish. DCE iron ore broke the previous gap and thus lose an important support around 760.0 level. However daily low tested low at moving average 10 and bounced back. The mid-run correction has yet come. From hourly chart, if iron ore broke 733.5 then top reversal in mid-run created. Hourly …
FIS Daily Physical Review Jun 10th
Iron Ore and Steel Market Updates – Iron ore port fixed-price trades are light during past two days. – Australia Pilbara port may export 47.78 million tonnes, up 3.4% y-o-y, export to China 43.18 million tonnes, up 14.14%. – Ganggu Construction Steel Inventory: production 2.11 million tonnes, up 2.45% w-o-w. Mills inventory 2 million tonnes, …
FIS Ferrous Weekly Report 09/06/2020
Iron Ore DCE September Daily Technical Review Jun 8th(Hourly Chart from May 18th to Jun 8th)
Verdict – Short-term consolidation. DCE iron ore jumped up at 798.0 yuan only 3 yuan from limit up however correct back significantly by last hour and closed at 783.0 yuan. From hourly chart slow stochastic narrowed and potentially create dead cross near overbought area. Hourly level CCI correct from high area. Technical signals are indicating …
FIS Daily Physical Review Jun 8th
Iron Ore and Steel Market Updates – Steelbank inventories: construction steel inventories 7.08 million tonnes, down 5.51% w-o-w. HRC inventories 2.08 million tonnes, down 5.88% w-o-w. – China customs: China iron ore import 87.03 million tonnes in may, up 3.9% y-o-y. China steel export 4.4 million tonnes in may, down 23.4% y-o-y. – Vale informed …
A Short Summary on Vale Disruption on Itabira Complex
Iron ore futures in both SGX and DCE jumped after top iron ore miner Vale SA was ordered to shut operations at Itabira complex including three major mines that accounts for 10% of annual production, boosting concerns that Brazil will disrupt other mines in coming months. However Vale also claimed the potential impact of 2.7 …
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Iron Ore DCE September Daily Technical Review Jun 5th(Hourly Chart from May 18th to Jun 5th)
Verdict – Short-term consolidation. DCE iron ore rebounded from DCE night session, however consolidated within narrow range from 743.0- 746.0 area in Asian hours. From hourly chart, multiple tops pattern has created and the low of candles broke down neckline on 738.0 area. Thus, iron ore is still in a correction tunnel, unless a breakthrough …
FIS Daily Physical Review Jun 5th
Iron Ore and Steel Market Updates – MySteel 45 ports iron ore inventory at 107.54 million tonnes, down 311, 500 tonnes w-o-w. Daily evacuation 3.14 million tonnes up 121,400 tonnes w-o-w. Australia iron ore on ports at 60.51 million tonnes down 499,800 tonnes w-o-w. Brazil iron ore on ports at 21.79 million tonnes down 147,700 …
Iron Ore DCE September Daily Technical Review Jun 4th(Hourly Chart from May 19th to Jun 4th)
Verdict – Short-term bearish. DCE iron ore rejected by roof area at 770.0(last high at 775.0) and then created a slump before noon and before afternoon DCE closing, both timing with huge volume of long covering. The low breakdown the neckline from hourly range and created a multiple top. A reversal has created and mid-run …