Author archives: Hao Pei

Ferrous Market –    MySteel 45 ports iron ore inventory at 116.16 million tonnes, up 1.23 million tonnes w-o-w. Daily evacuation 3.13 million tonnes down 47,100 tonnes w-o-w. Australia iron ore on ports at 57.37 million tonnes up 608,300 tonnes w-o-w. Brazil iron ore on ports at 31.69 million tonnes up 969,200 tonnes w-o-w. 157 ships …

Continue reading “Daily Ferrous Physical Review Sep 25th”

Verdict – Short-term neutral to bearish. DCE iron ore entered a short-run consolidation area after the second round of correction. The support at 751.5 is strong since lower area is theoretical support for a double tops pattern. However daily MACD created a classic bearish pattern when seeing longer term MA is bigger than short term …

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

Ferrous Market –    Ganggu Construction Steel Inventory: production 5.53 million tonnes, down 49,300 tonnes w-o-w. Mills inventory 4.86 million tonnes, up 34,800 tonnes w-o-w. Circulation inventory 11.17 million tonnes, up 143,200 tonnes w-o-w. –    MySteel Rebar Inventory: Rebar production 3.76 million tonnes, up 1.03% w-o-w. Mills inventory 3.51 million tonnes, down 1.08% w-o-w. …

Continue reading “Daily Ferrous Physical Review Sep 24th”

Verdict – Short-term bearish. DCE iron corrected in narrower range during the day, intra-day low was supported by 783.5, 60 day moving average. Breaking down 777.5- 783.5 area would suggest iron ore entering a long-run bearish market. Otherwise iron ore follow a cyclely correction in weekly level. Iron ore did not test high at all …

Continue reading “Iron Ore DCE January Daily Technical Review Sep 17th”

Ferrous Market –    MySteel Rebar Inventory: Rebar production 3.73 million tonnes, up 0.29% w-o-w. Mills inventory 3.55 million tonnes, down 0.8% w-o-w. Circulation inventory 8.81 million tonnes, down 1.4% w-o-w. –    Ganggu Construction Steel Inventory: production 5.58 million tonnes, down 3,300 tonnes w-o-w. Mills inventory 4.82 million tonnes, down 54,200 w-o-w. Circulation inventory 11.32 million …

Continue reading “Daily Ferrous Physical Review Sep 17th”

Verdict – Short-term bearish. DCE iron ore correct over the second day with increasing volume and open interest, indicating new short positions are dominating the market in short-run. In mid-run, a breakdown on 808.0 level indicating mid-run bearish market. From hourly chart, slow stochastic KD deepened correcting. The first support is 777.5. The first resistance …

Continue reading “Iron Ore DCE January Daily Technical Review Sep 16th”

Ferrous Market –    Construction steel consumption is less than expectation in traditional building season in September. Trading volume is weaker compared to August. In addition, construction steel inventories are at historical high level. –    Mysteel Australia and Brazil iron ore delivery at 26.34 million tonnes, up 2.59 million tonnes. Australia iron ore delivery 18.17 million …

Continue reading “Daily Ferrous Physical Review Sep 16th”

Verdict – Short-term neutral. The major push of iron ore was by short covering by Friday night session. Iron ore was rejected below 848.0- 850.0 area for three times during the day. From hourly chart, MACD is narrowing above 0 axis. Slow stochastic KD is narrowing above overbought area. CCI correct from above 100 area …

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

Ferrous Market –    Steelbank Inventory: rebar inventories 7.45 million tonnes, down 2.23% w-o-w. HRC inventories 2.08 million tonnes, down 1.98% w-o-w. –    The sintered iron ore production curb impact is limited observed from production data. Moreover the winter production curb potentially out in October. Spot lump and pellets growth are limited believed by some mills. …

Continue reading “Daily Ferrous Physical Review Sep 14th”